The United States Defense City
Discover San Antonio's Real Estate
As the oldest municipality in Texas, San Antonio has been developed rapidly over the past few decades. The city boasts of a diversified economy, which includes tourism, oil and gas, manufacturing, military, and real estate. San Antonio provides a good standard of living for its residents and also contributes largely to the country’s GDP. For every discerning real estate investor, this is the place to be.
Culture, History, and Business
Founded in 1718 by the Spaniards, San Antonio became the first civil settlement in Texas. The city got its name from a 1691 Spanish mission for Saint Anthony of Padua. San Antonio is home to over 2,473,974 residents making it the third-largest metropolitan city in Texas and the seventh-populated city in the U.S. With an economy that focuses on military, manufacturing, oil and gas, real estate and tourism; San Antonia boasts an annual GDP of over $96.8 billion.
San Antonio receives over thirty-two million tourists in a year, a rare figure for even the major tourist destinations in the world. It always houses about six U.S. military facilities making it the highest in the whole of the United States. The high employment rate in the city makes it the best destination for young professionals and job seekers.
Real Estate Appeal
As one of the fastest-growing economies in the United States, San Antonio is the real deal when it comes to real estate investment. Property prices in the San Antonio housing market have been increasing steadily in the past twelve months; it has recorded a 5% within that period. This value is expected to rise as the growing demand in the San Antonio property market continues. Construction activities have been ongoing, particularly in the entry-level-single-family homes, in a bid to satisfy the demand.
In 2019, over 34,430 single-family homes were sold, making it a 7% increase from the previous year. With this, there will be more homes for beginner investors who will be seeking to buy properties under $200,000. Homes in the city are relatively affordable, and this is due to increased development. The high price appreciation and relative affordability are good reasons to look towards investing in this wonderful city.
Is San Antonio a good location in which to invest? The short answer is yes. In our follow up articles, we will be reviewing the reasons to invest in San Antonio as well as the top neighborhoods to invest in.
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