Extended Stay News

Commercial Real Estate Market Grows in Houston

13 May 2011

People involved in real estate investment and development may want to consider visiting Houston, as the city is seeing an upswing in the realm of commercial real estate, reports the Houston Chronicle.

Real Capital Analytics, a property research firm that tracks real estate transactions, found that the number of commercial real estate deals grew by 44 percent in 2010 relative to the year before. According to the source, that number is expected to rise even more in 2011.

"We have an economy that's doing really well in Texas," said Ted C. Jones, senior vice president and chief economist for Stewart Title Guaranty Co. "The economy heals all wounds and our wounds weren't that bad compared to everybody else."

One reason that Houston's real estate market has performed so strongly this year is the growth in the value of properties in the country's top markets, such as New York, Los Angeles and Washington D.C. In an effort to find savings, investors and buyers have sprung for options in emerging cities like Houston, Dallas and Atlanta, leading many of them to travel to these destinations for extended periods of time.

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