As we all know, Silicon Valley is an incredible real estate market. In the last few decades, the tech industry significantly impacted home values and made the area a great place for real estate investment. Coldwell Banker even revealed that Los Altos (a city in Silicon Valley) was the most expensive market in the entire country, with the average home selling for $2.3 million!
These high prices make it difficult for many to invest. Instead, consider investing in one of the cities considered to be the next big tech hub. You may be able to make an incredible profit down the road. Forbes has revealed the five cities that will likely be the next big tech hubs. How did they determine this list? They looked at cities with characteristics similar to Silicon Valley pre-real estate boom.
So which cities made the list? Austin, Dallas, Seattle, Chicago, and Miami are considered to be the next five Silicon Valleys and are prime locations for real estate investing.
Austin is already the home to Dell and is a young and educated population. With a growing music and restaurant scene, we can expect to see real estate in this city take off in the next few years.
Dallas is already the fourth best tech city to work in, and it’s only supposed to get better and more attractive, with low housing costs and growing job rates.
Seattle, too, is already home to a number of tech companies, and real estate has greatly increased over the past few years. Chicago is considered to be just one step ahead of Seattle, with job growth and a number of tech companies.
And, lastly, Miami is also growing in tech companies and is an attractive city to foreign investors.
Real estate in these cities can make a great investment. Share this article with your friends, especially those living in these cities already!