Houston is one of the fastest-growing cities in Texas. Its population has doubled over the last 40 years, reaching 4.8 million people. There are more than 1,000 births each day in Harris County alone! The population of Cy-Fair increased by 9.4% over a five-year period, from around 552,000 people in 2016 to more than 604,000 in 2021 according to U.S Census Bureau data released earlier this year; this growth rate sheds light on a gap in the real estate market of the Cypress area - the need for new medical developments.
The primary objective of local healthcare organizations is to meet the need for access to healthcare as Cypress's population expands. This starts with increasing the availability of medical facilities and continues through new expansion efforts. According to CEO of Memorial Hermann Cypress Hospital Jerry Ashworth, "When we talk about expansion, it's more than just us adding buildings and parking garages and building out bed units; it's about us expanding the overall level of care that we provide." The demand for medical services is expected to continue growing in Houston as well as across Texas in general because more people are moving to the lone star state post-pandemic era. As the population expands, so will the need for medical real estate. Since 2010, the Houston metro area has recorded an approximate 1 million population increase, and 740,000 more people are anticipated to move here over the next 20 years. The demand for healthcare development has increased across several sectors, including hospitals and clinics, according to new research from CBRE Group Inc. This tremendous rise is proof that the ideal time to invest in real estate is now.
The need for medical facilities rises along with the population. To handle this expanding population, commercial real estate professionals will need to invest in the construction of medical facilities. Investors in medical real estate should keep an eye out for any fresh developments as this is a 'hot commodity' according to the current market condition. Medical services is one industry of commercial real estate that is experiencing expansion despite many other areas seeing a decline. The need for medical care, specifically in Cypress, is rising along with population growth, and this could present chances for those wishing to invest in commercial real estate.
In the Cypress area, there is already a flurry of new construction. In response to the expanding needs of the region, construction is currently taking place at the new Houston Methodist Cypress Hospital. In January, the Fairfield Clinic of the Kelsey-Seybold Clinic opened. At the start of this month, HCA Houston Healthcare also unveiled its brand-new 24/7 Emergency Room facility off Highway 249. Medical center administrators believe that these recent and planned changes are crucial because they spare residents from having to spend significant time, effort, and money traveling all the way downtown to the hospital.
The population of Cypress is expected to continue growing, which means there will be more demand for medical development and healthcare construction. Investors in this sector should be on the lookout for new developments in their area.
What REIT Means And How You Can Make Big Bucks With It!
Real Estate Articles / Feb 01, 2022
What if you were told that you could earn regular dividends from your investments without the hassles relating to buying, managing or even financing a property?
Purchasing Commercial Real Estate? Consider These 5 Things Before You Buy
Real Estate Articles / Feb 09, 2019
Whether you are a seasoned investor, or you\'re researching for your first property there is always a certain risk factor that makes us hesitate before signing the dotted line.
Industrial development on the rise in Texas real estate 2023
Real Estate Articles / Apr 04, 2023
Texas has become a place of choice for businesses because of its growing population. This growth has led to increased demand for commercial real estate development, specifically industrial development. This rise is set to continue until the end of 23
Why Grocery-Anchored Real Estate Does Better!
Real Estate Articles / Feb 22, 2023
Grocery-anchored shopping centers are on the rise in the retail sector. They are the best investment in commercial real estate. It is low risk and long term.
Crypto is changing the real estate industry. Invest in real estate using crypto currency!
Real Estate Articles / Sep 01, 2022
With the economic inflation rising, the real estate and financial market is undergoing changes. Crypto currency is the new trend in real estate and in the investment world as more people are using crypto to invest in real estate.
Why Invest In Retail Properties?
Real Estate Articles / Mar 09, 2019
Are you considering investing in commercial real estate? Not exactly sure which type of property to start with? Fret no more!
Who Should Invest In Commercial Real Estate
Real Estate Articles / Mar 16, 2019
There are several reasons why someone would choose to invest in commercial real estate.
What You Need To Know About Closing
Real Estate Articles / May 11, 2022
Whether you are buying property or selling property, closing is a crucial part that will make or break your deal. We have listed major pointers that will help you deal with your next closing much better.
Stocks Or Real Estate? Which Is The Better Investment?
Real Estate Articles / Feb 09, 2022
Want to invest and make money? We have listed out the pros and cons of the real estate market and the stock market so that you can decide if you want to invest in stocks or real estate.
Everything you need to know about capital gains tax and real estate investment
Real Estate Articles / Apr 01, 2022
Capital gains tax is levied on the profits made when you sell property or sell investments owned by you. Here’s how you can be exempt from taxes along with the top tax tips for investors and property owners.
