Austin Beats San Francisco, Tel Aviv, NYC for Tech Biz Title
British property consultancy Savills released study findings Wednesday that cited 12 cities across the globe with the most ideal environment for technology businesses. Of course, out of those 12 cities there was a clear forerunner. Austin, TX ranked as the #1 city in the world for technology businesses. There were many factors that contributed to this finding, but
Austin’s quality of life considerations for employees, internet access speeds, cost of living, GDP growth and Austin’s real estate scene set the city apart from the others.
In an advisory released with the findings, Jon Hutt, head of corporate real estate at Savills, said that “in today’s world it is fundamental that companies look closely at how they retain their existing talent pool, attract new talent and keep themselves ahead, in what is an increasingly competitive employment market.” He went on to state, “The nature of their space, the areas in which they locate, the quality of life that they can offer their teams and the access they have to talent, as they grow, significantly outweigh saving a few dollars on rent.”
Increasing recognition at the top of industries, a healthy economic environment, diverse city offerings and affordable homes for sale continue to strengthen Austin’s real estate sector. Home prices are still making steady gains as the demand for Austin homes show no signs of decreasing. As the city continues to be recognized for its myriad business and domestic benefits, Austin real estate will continue to remain strong for quite some time.