Daily Briefing: 📊 Austin Tops HQ Charts & Innovative Homeownership on the Rise! 🏡

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Here’s what you need to know about CenTex CRE Today:

1. Austin leads US in corporate HQ relocations, attracting 66 companies. 🏢

2. Kristina Modares goes viral for pioneering 'Houses Before Spouses' homeownership trend. 🏠

3. Quality Suites South Austin sold by HVS to Florida's Celestial Dreams. 📈

4. JW Surety Bonds survey: 13% of Americans co-buy homes with friends. 👫

Corporate Relocations and Business Growth in Austin

Austin tops list for headquarters relocations in US, report says

Source: KXAN News

Summary: Austin continues to attract corporate headquarters at an unprecedented rate, with a report by real estate company CBRE stating that 66 companies have relocated their headquarters to Austin in the last five years, making it the leading city for HQ relocations in the country. Reasons for the move include business incentives, a large and skilled talent pool, quality of life, and cost of living, which despite rising, is still on par with the national average and below that of larger cities like Boston, San Francisco, and New York.

Why this matters: The influx of corporate headquarters to Austin signifies a thriving commercial real estate market, and this influx can be leveraged by Central Texas commercial real estate professionals to showcase the city's business-friendly environment, attracting more corporate clients and broadening their professional network.

Real Estate Transactions and Developments

HVS Brokerage & Advisory Closes Sale of Quality Suites South Austin

Source: ExecutiveSearch.HVS

Summary: A new affordable housing complex has been opened in North Austin, bringing 275 new units targeting tenants making less than 60% of the median income. This project by the NRP Group is a response to the growing demand for affordable housing due to the escalating rental prices in Austin, particularly in Williamson County. The complex aims to provide high-quality, affordable living spaces and will also offer additional services, including an after-school program, budgeting and homeownership education.

Why this matters: The development represents an opportunity for professionals in commercial real estate to leverage the increasing trend towards affordable housing in Central Texas, by investing in or recommending similar projects to clients, addressing the glaring need for affordable, quality housing.

Real Estate Market Trends and Innovations

Houses before spouses: This Austin woman went viral on TikTok for buying 6 properties with friends — tells singles that homeownership is possible with this method. Should you do it, too?

Source: Yahoo Finance

Summary: Austin-based Kristina Modares went viral on TikTok for buying property with friends as an alternative way for individuals to own homes, with her real estate business operating under the slogan 'Houses Before Spouses'. Modares is a part of a growing trend as a survey from U.S. surety bond provider, JW Surety Bonds, shows that 13% of Americans have recently purchased a home with a non-romantic partner. The trend is primarily driven by millennials due to increasing housing costs and economic hardships, but 9% of boomers are also co-buying homes. This method, along with the increased popularity of real estate investment trusts (REITs), poses unique housing solutions in the face of market challenges.

Why this matters: Given the evolving trend of co-buying properties in Austin, commercial real estate professionals can adapt their services to accommodate these non-traditional property ownership arrangements, creating new opportunities for business growth.