Amongst other tanking markets around the nation, San Antonio is holding its own. Although, like many of the markets in the US, it certainly isn't experiencing a surge in commercial real estate transactions, it also hasn't seen sharp declines like some of the larger cities in the country. Much of San Antonio's steady commercial real estate market relies on its strong, local economy and growth, which has proven to be quite reliable and consistent. In fact, according to Emily Spicer of the San Antonio Express News, San Antonio is "one of the bright spots on the tumbling housing market landscape." What is it about San Antonio that sets it apart from many of the other markets in the country?
- San Antonio is the place to be for banking and medicine. Warm, year-round temperatures, along with a relatively safe geographical area in terms of natural disasters, make San Antonio a desirable part of the country.
In addition, the economy boasts banking and medicine as its top-two economies. Washington Mutual and Citicorp both have a strong presence in San Antonio. The South Texas Medical Center and 45 other medical institutions also call San Antonio home.
- Many of the country's top companies are based out of San Antonio. Many large corporations are lured to San Antonio because of its lower cost of living.
The economy of San Antonio is becoming more technology-based, and the area is now home to a number of major corporations, including the Toyota Tundra plant and the Valero Energy Corporation.
- San Antonio continues to see exceptional job growth. In fact, from 2004 to 2007, San Antonio experienced an increase of 10 percent in the total number of jobs. In addition, unemployment continues to remain low.
- Real estate prices remain very low, compared to many parts of the country, as well as other parts of Texas.