As business and property owners ride the waves of the Houston market, it is always great news to hear that a short-term struggle was just that, short-term.
Commercial Property Executive reports that Houston’s housing market proves to be resilient after natural disasters have affected portions of the greater Houston area. Construction remains active so rents are expected to rise by 2.3% in 2018! With Hurricane Harvey devastating the area just over a year ago, that is a fast bounce-back, welcome by all.
A few factors feeding the quick real estate recovery include employment growth of over 15,000 jobs, increasing growth of Houston as a distribution center placing warehouse space in high-demand, and the airport’s five-year two-billion-dollar capital improvement fund attracting more investors. With Amazon, Fed Ex, Ikea, and Best Buy adding distribution sites and re-building as well as large projects keeping the construction industry growing, Houston is expected to see rents improve.
When rents go up, property values should go up too! Remember to give us a call if your commercial property valuation is ever questionable. (281) 880-6500