As a real estate expert in Houston, TX, I have been closely following the city's housing market and the latest developments in the industry. One question that I am frequently asked is whether there are any new construction condominiums in Houston. And the answer is a resounding yes! There are several exciting new condominium projects currently underway in the city that are worth exploring.
The Rise of Condominiums in HoustonHouston has long been known for its sprawling suburban neighborhoods and single-family homes. However, in recent years, there has been a noticeable shift towards urban living and a growing demand for high-rise condominiums.
This trend is driven by a combination of factors, including an influx of young professionals and empty nesters looking for low-maintenance living options, as well as the city's efforts to revitalize its downtown area. According to data from the Houston Association of Realtors, the median price for a condominium in Houston increased by 5.6% in 2020, outpacing the 4.8% increase for single-family homes. This indicates a strong demand for condominiums and a promising market for developers.
New Construction Condominiums in HoustonOne of the most highly anticipated new condominium projects in Houston is The River Oaks by Pelican Builders. Located in the upscale River Oaks neighborhood, this luxury high-rise will feature 79 units with prices ranging from $1.8 million to over $10 million. The building will offer top-of-the-line amenities such as a rooftop pool, fitness center, and concierge services. Another notable project is The Wilshire at River Oaks District by Pelican Builders.
This 17-story tower will feature 96 units with prices starting at $1 million. The building will be connected to the upscale River Oaks District shopping center, offering residents convenient access to high-end retail and dining options. For those looking for a more affordable option, The Ivy Lofts by InTown Homes offers micro-condominiums starting at just $150,000. Located in the up-and-coming East Downtown (EaDo) neighborhood, this project aims to provide affordable housing for young professionals and students.
Benefits of Owning a Condominium in HoustonThere are several advantages to owning a condominium in Houston. One of the main benefits is the low-maintenance lifestyle.
Condominium owners are not responsible for exterior maintenance, landscaping, or other tasks typically associated with owning a single-family home. This makes condominiums an attractive option for busy professionals or those looking to downsize. Another advantage is the amenities that come with many condominium buildings. These can include fitness centers, swimming pools, and 24-hour concierge services. These amenities not only add convenience but also contribute to a sense of community among residents. Additionally, condominiums offer a more affordable entry point into desirable neighborhoods such as River Oaks and EaDo.
This allows buyers to live in areas they may not have been able to afford otherwise.