October 26, 2016
The city of Austin was ranked best for overall real estate investment and development opportunities in the United States, according to a survey from the Urban Land Institute (ULI). The “Emerging Trends in Real Estate” survey, which ULI conducts jointly on an annual basis with PwC (formerly PricewaterhouseCoopers), monitors opinions and rankings from 1,500 professionals in the real estate business. Austin moved up to first place, beating out Dallas.
Though real estate acquisition and development drove Austin to the top, the Capital City’s rank dropped to 11 when it came to homebuilder opportunities. The reason for the drop could be costs of land, labor and development. In addition, the region faces increasing traffic congestion and higher costs of housing and doing business.
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