FOR IMMEDIATE RELEASE
Hahn Public for ULI Austin
(512) 344-2035 or 619-6742
Austin ranked as one of top U.S. markets to watch
Urban Land Institute Names Austin, Secondary Markets High in 2018 Rankings
AUSTIN, Texas – Nov. 7, 2017 – In their annual Emerging Trends in Real Estate report, The Urban Land Institute (ULI) ranked Austin second out of U.S. markets to watch for overall real estate prospects.
Ranking third in investment and second in development, the outlook for Austin’s real estate prospects remains positive amid a growing economy. Since 2010, Austin has ranked seventh or higher in ULI’s Emerging Trends in Real Estate report, predominately ranking in the top five markets.
“Major relocations such as the new Oracle campus in southeast Austin, a new a vibrant Medical Center and an ever-expanding tech community will be fueling the Austin economy as we enter 2018. Class A office space continues to be in high demand in the central business district and hotel occupancy continues to outpace all other cities in Texas,” said Robert Barnes, President of IBC Bank and ULI Austin Advisory Board member. “All signs are that the Austin market will experience another robust year.”
The report, which is the product of multiple interviews, extensive survey and individual market focus groups, found the top markets were so competitive, researchers had to use data related to top secondary markets and adjacent submarkets to determine the final rankings.
Other Texas cities making the list include Dallas-Fort Worth at number five, San Antonio at number 18 and Houston at number 60. The report was created before the economic effects of Hurricanes Harvey and Irma.
The report also provides an in-depth look into various aspects of the real estate market, including an overview of capital markets, the current outlook on various property types, and extensive economic insights. The complete report is available on the ULI website.
About ULI Austin: The Austin District Council of the Urban Land Institute was founded in 1999. Today, the Austin District Council includes more than 585 Austin-area professionals in the planning, architecture, design, engineering, investor, landscape, lender, legal, construction, communication and government industries, involved in every sector of real estate development, from residential and retail to commercial and hospitality. ULI is known for its topical monthly breakfasts, which feature local and international experts on topics important to the community’s growth and prosperity.
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