Houston, as the fourth largest city in the United States, is based in Texas, with a developed economy and good prospects for economic development. As a city with a strong energy industry, Houston attracts a large number of outsiders every year. It has a vast area, yet it has become a densely populated city like New York, allowing people to come together to share ideas and create wealth. Real estate in Houston has long been the focus of global investors because of its excellent financial investment environment and the potential for higher appreciation of properties in the area.
Houston's housing market has been steadily rising for years
Houston has a world famous seaport, as well as a famous industrial and commercial center. Its favorable geographical location and cultural and educational advantages make the real estate in Houston short of supply. The increase in the demand for real estate drives the regional housing price, which makes its housing price market rise steadily over the years. From 2013 to 2017, home prices in Houston continued to grow.
Houston's housing market is more stable than other American cities. Since 2013, housing prices in Houston have risen from the initial $230,000 to the current $700,000, prompting many investors to invest in real estate in Houston because they see high investment potential here. After 2015, the number of Chinese buying real estate in Houston began to increase rapidly, and the amount of real estate transactions also gradually expanded. In 2016, they invested tens of billions of dollars in real estate in the United States, and Houston is also a city with a high number of real estate transactions in the United States.
Will the oil slump lead to a recession in Houston?
Houston is a booming oil city. In the first 10 years of 2010, its urban population grew more than any other American city. Between 2009 and 2013 its real GDP grew by 22%, more than twice as fast as that of America as a whole. And between 2009 and 2014, more than two-thirds of the growth in U.S. crude oil production occurred in Texas. In the past, there has been a strong positive correlation between rising oil prices and job growth. Houston is expected to add enough new jobs this year to hold down the unemployment rate.
Luis Torres, an economist at Texas A&M's Real Estate Research Center, shared his predictions for Houston's housing market with dozens of economists and Business leaders on January 31, according to the Houston Business Journal. "Houston is a strong market and it will improve in 2017." "I can confirm that the worst of the recession is behind us," Torres said. He said that despite falling oil prices, a depressed market and a decline in new home construction at the end of 2014, commercial housing transactions in Houston stabilized and the housing market remained resilient and likely poised for growth in 2017.
Houston was the first housing market in the country to recover from the Great Depression, in large part because of the shale revolution and the ensuing energy boom, but its housing recovery has been uneven. Demand for homes in Houston surged in 2016, setting new sales records, but new home construction did not reach its pre-recession peak. "Demand outstrips supply," Torres said. "That's one of the major problems in the Houston real estate market." He analyzed that local real estate developers lag behind the construction of new houses mainly because of two problems: land shortage and labor shortage. "Developers tell us it's very difficult to build properties that sell for less than $250,000 because of land restrictions and labor costs." "Torres said. The imbalance in supply and demand has led to skyrocketing home prices. In 2016, the average Houston home sold for $299,770, with many new homes costing more than $500,000. Some economists at the Texas Real Estate Center think that in a few years, the Texas housing market will be more like California's expensive housing market.
In addition, the US real estate market should actually strengthen in 2017-2020 as Trump is committed to promoting US local interests, including increasing job opportunities. According to the National Association of Realtors (NAR), Trump's inauguration will not have a negative impact on the U.S. real estate market, but the relocation of overseas factories to the U.S. is expected to increase job opportunities. This expectation will encourage people to buy property, and those returning to the industry will also allocate property, which will probably keep the supply in short supply, and the Federal Reserve will raise interest rates, so the housing market is bound to strengthen in 2017-2020.
In 2017, local buyers are expected to increase their purchasing power and may even replace some overseas buyers. Houston has become another popular destination after New York, Los Angeles and other areas where Chinese people gather to invest in real estate. The annual growth rate of local real estate prices is more than 10%, but compared with other areas, the housing price is not high, plus low taxes and fees, Texas is definitely worth investing in the potential city. Houston's high-speed urban construction and economic entities with energy, medical care and ocean logistics as the core provide investors with more secure security, while its comfortable climate, developed tourism and well-known universities highlight its unique charm. Take a look at the Houston Golden Oaks Luxury Villa Community project prepared by Wanguo Land for you to make your investment at the right time!
(Some pictures and materials of the article come from the Internet)
Golden Oaks luxury Villa community in Houston, USA
Product: Detached villa
Apartment type: 3-4 rooms
Floor area: from 300 square meters
Set area: 200 square meters
Price: From $350,000
Decoration standard: fine decoration
Recommended reasons:
The project is located in Houston, the technological leader of the industrial economy in the United States. In 2015, Houston, with an economic growth rate of 3.52%, won the top spot in the Forbes 2015 list of the fastest Growing Cities in the United States, becoming the most promising area for development in the United States. Among the Fortune 500 companies in the world, 24 such as Phillips 66, Sysco and Conocophillips have settled in Houston, which is second only to New York and the fastest growing metropolis in the United States. The six advantages of Golden Oaks luxury villa community in Houston are a highlight of attracting high net worth individuals.
Houston is the largest economic center on the Gulf Coast, the sixth largest port in the world and the largest port city in the United States. It is famous for its energy (especially oil), aviation industry and canals. Houston is also home to the world's largest and most important research and treatment facilities.
The high quality school district resources and elite education of Golden Oak luxury villa community attract a large number of home buyers who pay attention to overseas education. The project is located in the Klein School District, one of the top ten school districts in the Houston area. Besides, it is within 30 minutes' drive to the University of Houston and Rice University. Besides the excellent public schools, the surrounding private schools are also excellent. In addition, there are 4 of the top 10 schools in the United States in this region, which shows that the cultural atmosphere of this region is at the leading level in the United States. The advantage of an elite education is attractive to buyers of Golden Oaks.
Golden Oak is a predominantly white and highly educated community, with 85 percent of adults in the area having a bachelor's degree or higher. The median per capita income of the community where the project is located is as high as $59,900, far exceeding the average resident income of Houston. It can be said that it is truly a "rich area"!
High-end circle life is also a highlight of Golden Oak luxury Villa community. Around The project, there are many top golf courses that can host world-class events, and Texas Medical Center, the world's top hospital, enjoys the largest shopping mall in Texas, The Galleria and other large shopping plazas and other living facilities.
The Golden Oaks Luxury Villa community is located on Highway 99 and connects the greater Houston area. According to media reports, the completion of Highway 99 will directly activate the real estate market along the route. Moreover, the project is located in an area with good investment returns, with the housing price rising 9.6% compared to last year. Conservative estimates are for 10% growth over the next year, with a healthy rental market and declining vacancy rates.
Houston Golden Oak luxury Villa project as a magnificent transformation developer of Wanguo Land, built with ingenuity, mature operation; Real estate consultant new services, customized for customers to choose a variety of schemes; Customers can according to their preferences, choose their own appearance, housing type, material, real villa can also be customized.
[On the Land of Nations] :
Wanguo Land is the leading overseas real estate trading platform in China. It is the only first-level agency with more than 38,000 units of high-quality housing in 15 countries and 25 regions in China. Wanguo Land has spread across North America, Europe, Asia, Oceania and South America, and is the "preferred partner of top 100 developers worldwide". It is known as "the trusted overseas real estate expert of Chinese Fortune 500 high net worth group" and "the leader of overseas real estate of Chinese people". Through years of overseas real estate investment consulting experience, I have accumulated rich and detailed market data, and know the real investment needs of home buyers well. It not only exceeded customer expectations in terms of products and services, but also provided customers with a lifestyle change. Wanguo Land is transforming itself into a developer. It will also enter into strategic cooperation with AMA, a famous project management company in the United States, to develop 7 real estate projects in the United States, becoming the first Chinese overseas real estate investment consulting company involved in overseas development.
Please consult the official website of Wanguo Land or call 400-606-5355
