It’s undeniable. The Austin downtown skyline has changed dramatically over the past decade, with dozen of new buildings popping up, namely various condominium and apartment buildings.
Many speculated that “downtown living” would not take off here, but a recent article seems to disprove that. Recent estimates state that there are roughly 400 units left to purchase in the downtown area. With lenders tightening their ropes and loans getting harder to obtain, it is unlikely that any new projects will begin for another four to five years.
For current condo homeowners, this could be potentially great news since they’ll see home values rise in appreciation. On the flip-side, financing problems, which were the main contributor to the slowdown, could make it difficult to find qualified buyers to purchase existing units.