Commercial real estate in Texas: trends and predictions

People are researching real estate in Texas very often. This is simply because Texas is a very popular destination and even though it’s highly populated you still have plenty of room left for newcomers. This is a big state and it’s perfect for hot weather fans. If you don’t mind the humidity that is. Also, it’s becoming a real trend that people from states like California or New York relocate here. More and more so each year. Many of them are looking to work there of course and that’s why aside from residential real estate we need to take a look at commercial ones too. This is an important thing for people looking to relocate their company here or maybe even start a new business. Luckily, Texas is not one of the most expansive states real estate-wise. So, that is a piece of good news.

Did the global pandemic change the prices of real estate in Texas?

This is the most common question asked nowadays. Since the global pandemic started, the global economy was hit. That is still reflected in mortgages. You see, the mortgage rates are still lower and that can be very good for you. People expected real estate prices to drop and they did but not very much. This is still a matter of demand and supply and there is no shortage of demand. That is a reason why the housing market never crashed even though many experts predicted it in 2019 and in 2020. The same is with commercial real estate.

mask on the door
Coronavirus affected every aspect of our lives. Luckily (thanks to the vaccines ) things are starting to look better now.

Commercial real estate

People are sometimes confused with what is commercial real estate and can you live in it. If you are buying an apartment in order to rent it then this is commercial real estate and yes, people can live in it of course. The same goes for hotels and such. But if you are buying a real estate property that doesn’t have a residence permit that no, you can not live in it. It’s that simple. Some are only for commercial use, for example, stores. Some are only meant to be office space or storage. Keep that in mind.

The current state of commercial real estate in Texas

We all know about Zillow, the website where you can check out the current prices and look around at apartments and houses. But Zillow is only for residential estates. There is the same website for commercial real estate and it’s called LoopNet. So, this can be a good place for you to see for yourself the current prices. Plano is currently the hottest place in Texas for commercial real estate and the prices there are below the national average.

Predictions for 2022

Some experts claim that we will see a drop in prices during the second half of next year. They are usually right and it can be worth waiting a bit since it’s now less than a year, but this is only a prediction. Based on many known factors but still a prediction. So all in all, it can be worth waiting a bit and to see will the prices drop, but there is no guarantee.

house shaped key chain
There are some predictions that the prices of real estate will drop next year.

Trending cities

Here is a list of the cities where people usually buy commercial real estate for their businesses :

  • Plano
  • Dallas
  • Irving
  • Frisco
  • McAllen

Those are just the most common ones, of course, you will be searched based on what kind of property are you looking for and in what line of business are you in. Those are all important factors. These are just cities where people most often search for commercial real estate in Texas. Choosing the right city will be hard but also exciting and when the day comes to relocate your office for example you should contact movers like Evolution Moving Company DFW to help you out. Read on to see the reason why.

Relocation made easy

You see, relocations can be quite difficult and hard. There is so much planning involved but also packing, preparing, heavy lifting so it’s only natural to want some help. There is a way to avoid all that hard work and relocate stress-free just by hiring professional movers to help you relocate your office. Of course, you need to plan your budget and you can do that online now, just type the locations and the dates and they will give you a free moving estimate. That is a great way to plan your budget which is very important.

commercial real estate in Texas - relocating office
Relocating an entire office is never easy, but movers can help you out.

Moving in

When it comes to moving to your new office premises the locals are the best assistance. They can help you to unpack easily and to settle in. You can do this on your own of course but it will take more time. The sooner you move in the sooner you will be able to start working so that is why you need locals’ help.

Good to know if you are relocating from another state

Here are some things to know if you are relocating to Texas from another state :

  • people in Texas are very friendly and accepting (they call this southern hospitality)
  • the weather is sunny but you need to protect your skin from the sun
  • there is a growing IT crowd in TX
  • instead of saying hello, they use “Howdy” as a greeting
  • the southern food is amazing
  • in rural areas, the real estate prices can be very low
  • you will always have room to park your car

These are just some facts for newcomers they should know about. Surely you will adapt here in no time. Especially since the people, there are so friendly and they will be glad to help you out.

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