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.
Houston excels in the latest ranking of top U.S. cities for working-class families
Real Estate Articles / Dec 29, 2023
Houston-The-Woodlands-Sugar Land Secures 30th Spot in National Economic Prosperity Rankings, Revealing Robust Growth Amidst Population Surge and Varied Socioeconomic Challenges
Shopper & Consumer Trends Are Causing This Movement In Retail Real Estate
Real Estate Articles / Jun 19, 2023
The post-pandemic era brought several changes to the real estate market, specifically retail real estate and retail investment. Market trends for retail investment are on the rise. This is the right time to invest in real estate.
Navigating the Changing Tides of Net Lease Investments
Real Estate Articles / Jul 01, 2024
Net lease property market adjusts to rising interest rates: Sales volume down, cap rates up. Financing challenges stymie development and acquisitions.
Celebrating Juneteenth: A Step Toward Freedom and Equality
Real Estate Articles / Jun 19, 2024
At Tc Global Commercial, we believe in the power of home and community. As we celebrate Juneteenth, we want to take a moment to reflect on its significance and why it holds a special place in our hearts and our history.
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.
Transforming Houston: Council Greenlights Progressive Changes for Affordable Housing and Pedestrian
Real Estate Articles / Nov 23, 2023
Revolutionizing Houston\'s Housing Landscape: City Council Approves Sweeping Changes for Affordable Housing and Pedestrian Safety
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.
Navigating the Future of Real Estate: Trends in Houston and Beyond
Real Estate Articles / Apr 01, 2024
Exploring Real Estate Trends in Houston: Embracing Online Innovations and Smart Home Features
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.
The Ultimate List of Real Estate Terms
Real Estate Articles / Feb 25, 2022
We have compiled a list of top real estate words you need to know whether you are a real estate agent or are looking to buy a house or buy a commercial property. This is the real estate lingo you should know.
