Texas multifamily market not overbuilt, experts sayTexas multifamily market not overbuilt, experts sayhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=122042016-02-19T06:00:00Z2016-02-19T17:00:00Z

​​DALLAS – ​​Are Texas multifamily markets in danger of overbuilding? Generally speaking, not yet, according to two industry experts at last Friday's "Finding Shelter" conference.

"Is multifamily overbuilt? Mostly not if you close your eyes to Houston," said G. Ronald Witten, president of multifamily market advisory firm Witten Advisors.

CBRE Head of Investment Research Jeanette Rice said, "​If there's any overbuilding, it's not in the surburban areas."

Witten and Rice closed the one-day housing conference with a panel discussion about Texas multifamily investment.

Rice's numbers show that Texas multifamily investment is concentrated largely in the Metroplex at 59 percent. Houston is at 25 percent, while San Antonio and Austin are each at 8 percent.

Two-thirds (66 percent) of cross-border capital in Texas multifamily projects comes from Canada. The United Kingdom is second at a distant 18 percent.

Thirty percent of the $456 billion in commercial investments nationally is for multifamily projects.

"Finding Shelter" was co-sponsored by the Federal Reserve Bank of Dallas and the Real Estate Center.

Real Estate Center
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