Following the aftermath of the disaster known as Hurricane Harvey, it was determined that a total of $125 billion in damages was caused by the storm. However, despite this, there are many investors who are continuing to express interest in purchasing homes in the Houston area that were damaged by flooding thanks to Harvey. According to statistics, the profitability of these properties are said to be well worth it.

The overall cost of damages is also expected to increase in terms of coastal properties that are really sought after the most. For instance, storm surges and higher sea levels are two factors that can increase coastal storm costs to $3.5 billion from $1.5 billion. Furthermore, thanks to hurricanes and how severe they can be, the overall cost of damages is currently projected to reach approximately $35 billion per year.

After the initial flooding receded in retail areas, however, the tenants in charge of them got right to work making repairs.

Despite this, not only are real estate investors looking to purchase flood-damaged homes, but there are also some new developments going up in the city as well. For instance, CityPlace in Springwoods Village is currently under construction and will be 60 acres of mixed-use buildings located near the Exxon Mobil campus. There will be a total of 400,000 square feet of retail stores, a luxury apartment complex, hotel, office space, and a plaza that will hold various fairs, concerts, and other similar events.

Perhaps what’s in demand the most by real estate investors are small neighborhood shopping centers, as well as various service-oriented centers.

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