This year, PwC named Dallas as the top real estate market to invest in. It’s quite an amazing feat. In 2018, Dallas only climbed to the fifth spot. Now, it’s the #1 market, beating tough competitors such as Seattle, Boston, and Austin.
There are several reasons why Dallas made it to the top spot. Here are those
factors, which only emphasize why you should definitely invest in Dallas real
estate before the year ends.
- The population is booming
The Dallas-Fort Worth-Arlington metro area has seen tremendous growth in its population last year according to the U.S. Census. They counted approximately 146,000 new residents, a high percentage of which is made up of young professionals between the ages of 24 and 44, both from within the country and from overseas. This accounts for the largest population growth in the United States in 2018.
Two things that contribute to the significant population boom are the low cost of living in Dallas as well as the tax efficiency in the city. With more people coming in, demand for residential real estate is expected to continue to rise.
- A larger, better, and younger workforce
Along with the population growth came new talent, further bolstering the Dallas labor force. In 2018, the metro saw a 4.3 percent growth in the overall job sector. The local unemployment rate is also steadily going down. Last year, 3.5 percent of the population was unemployed, which is 0.4 percent less than the national average.
PwC also noted that Dallas is one of the markets with a high labor participation rate, surpassing the national average. Business start-ups are also thriving.
- New developments all over the metro
With the influx of young professionals and an extensive talent pool, developments are also cropping up all over Dallas. In the same PwC survey, it was found out that at least one-third of new construction in the country last year was found in only four markets: Atlanta, Inland Empire in California, Pennsylvania, and of course, Dallas.
To keep up with the housing demand, more builders are laying down plans to develop a variety of property types, from single-family homes to condos and high-rises. As a result, you can expect plenty of investment opportunities in just about every real estate sector in Dallas.
- Dallas is investor-friendly
People like to do business in Dallas for a number of reasons. Regulations here are more relaxed than in other metro areas. There are also lower tax obligations, and the overall cost of doing business here is relatively affordable. All these factors help create a healthy market and an investor-friendly atmosphere, whether you want to invest in residential or commercial real estate.
Do you want to explore your real estate investment opportunities in Dallas? You can count on us to show you the way. Get in touch with us at 317.674.6949 or send an email to wanda(dotted)charles(at)cbdfw(dotted)com to start your foray into Dallas real estate. You can also check our blog for more information and tips on Dallas real estate investments.