Austin has been one of the hottest cities in Texas for a long time now and has become a destination for many young professionals and even retirees. This vibrant city known for its Arts, culture, music, great food and night life has also become a target for home builders and condo developers over the last ten years. Of course part of the surge has been due to the recent housing boom but mostly it is tied to the steady increase in population, new businesses, and of course the overall attraction of living in Austin. Nowhere else in Texas can you find so many lakes, hills, and natural beauty all in one place. Then of course you add in the excitement of the urban environment, and you have it all!
Austin condo developments have been sprouting up in the downtown areas as well as around Lake Travis. One great downtown Austin condo development to note is the new Spring Condominium, an upcoming 42 story modern high-rise residential tower with homes starting starting in the high $200′s. The tower is at 300 Bowie and will be comprised of 246 units ranging from 565 square feet to over 1,700 square feet. Spring Condominium will be move in ready next summer!
One of the great aspects to the Austin condo market is that prices never became over-inflated due to the “condo” boom. Cities in Texas have never seen quite the volatility that other major cities across the country have experienced. Most of this is due to the gift of not being flooded with speculators and investors seeking a quick appreciation and profit. Cities like Dallas and Austin, while not immune to the market conditions are a bit more insulated and can therefore gorw at a healthy pace.
The Lake Travis area have been very popular for Austin condos and new development site saught by home builders. Waterscape Villas is just minutes outside Austin and offers 360 new luxury condos ranging in price from the mid $200′s to well over $1,000,000. That is the best part about Austin…it offers everything! Whether you are looking for a modern urban lifestyle or the easy life on the lake, you can find it all in Austin Texas.
The downtown Austin condo market will never be the same. A new modern 42 story condominium high-rise has been announced and is scheduled to be delivered in mid 2009. At 300 Bowie, Spring Condominium will offer 246 new luxury condos ranging in price from the mid $200′s to the high $900′s. These new Austin condos will range from 575 to 1,704 square feet and have all the amenities that one would need.
Spring Condominium features one, two, and three bedroom condos in the middle of all the action. Anyone who is from Austin, lives in Austin, or has simply visited knows what a fantastic city it is. That is why it has been one of the most popular and fastest growing cities in the country for a long time. The city is known for attracting young professionals and families but really does cater to all ages and generations. Downtown Austin is a great place to live and is not nearly as congested as one might think.
The housing market in Texas has also remained more stable than other markets across the nation. Cities like Dallas and Austin experience more steady growth as opposed to getting sucked into the “condo boom” behavior. This keeps prices more realistic and protects from much negativity when things slow down a bit or rates rise. Austin has a booming job market and offers more recreation, night life options, and amenities than most other cities in Texas. Spring Condominium will change the face of the downtown Austin skyline forever. Check it out today!
A recent issue of Forbes magazine has ranked Austin, Texas, number 3 for the best cities to find employment. The magazine has Austin coming in as number one for income growth and number two for job growth. This is a very good sign for the condo and housing market because as job opportunity grows, so does the need for new homes for an expanding workforce. According to the Texas Workforce Commission, in Austin, job expansion figures indicate 29,500 new jobs during a 12 month period ending September 2007. This is a 4 percent gain in employment during the past year. When you combine these new jobs with affordable condos, townhomes, lofts, and single-family homes, there is exceptional opportunity for high saturation over the next year. There are some great austin condo projects in the works right now that will have the duty of creating supply for the housing demand that these new jobs will bring. Montevista Condos, for example, start in the low 100s, and range in size up to 1,500 square feet. Compared to many other markets in the US, such as San Diego condos, or New York condos, this is very affordable. Take a look at other Austin condos on www.newcondosonline.com.
Here at www.newcondosonline.com, we have over 1,200 new and pre-construction developments throughout the nation up and listed on our site. We also have an international section featuring thousands of condo projects worldwide. I am hearing more and more about the United Arab Emirate of Dubai and the massive amounts of development that are going on in this UAE city. From what I have learned, Dubai has more operational construction cranes right now than any other country or region in the world. This isn’t just straight residential condo and commercial buildings either. There are many unique and “outside the box” projects going on in this region, which is becoming a true-life oasis in the hot, desolate, and arid climate of the Persian Gulf. Dubai is home the world’s first indoor ski resort, as well as a community of resort villas that are in the shape of the World’s continents from a bird’s eye view. Even Donald Trump has a large project going up here right now. So why are we hearing more and more about Dubai, and what will it take for the western world to become fully versed in this unique and rapidly growing city?
To begin with, there was a recent reversal of a law in 2002 that allows non-nationals of the UAE to own property (not land) in Dubai. The Dubai government does not want to depend on its oil reserves which are largely believed to deplete by 2010 and, turning many of the region’s efforts towards expanding commercial and corporate activities. This includes construction of massive and world renowned shopping malls, theme parks, resorts, stadiums and various other tourist attractions, i.e. an indoor skiing resort. To conveniently keep costs down, construction firms and developers in Dubai can employ many low wage workers who are willing to put in up to 12 hours a day, six or seven days a week.
Dubai‘s population is comprised mainly of expatriates, with local nationals making up the minority. The UAE government, however, does not allow permanent residence to expatriates. Keep checking back on our international listings at www.newcondosonline.com for more and more condo developments and investment opportunities in Dubai.