The Carvajal Group Blog

Austin Sees Real Estate Construction Boom to Slow

December 25th, 2008

Construction in downtown is booming, for now.  As the economy has faced increasing problems, private residences as well as office space construction has begun to churn out final products.  2008 will have seen 8,900 new rental apartment units and over 4.9 million square feet of office space delivered to Austin.  Of the 54 major metropolitan markets, Austin ranks third for 2008.

2009, however, will see a considerable slowdown.  Office space is expected to increase by only 1.6 million square feet next year.  Additionally, some construction of apartment units is being put off until later in 2009.

Although Austin has suffered from the recent economic downturn, many investors still believe that eventually demand will catch up to supply.Austin has many great opportunities for housing and real estate.

For more information, contact The Carvajal Group by calling 512-419-7770 or by visiting our website.

Tags: Austin environment · Austin lofts · Austin Real Estate · Austin real estate sale · Austin Rental Property