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Survey Shows RE Experts Jittery About Houston; Best Bets Are Downtown

HOUSTON-A recent survey tells investors to place their bets on the downtown instead of outlying areas and power centers. Houston ranks 17 out of 18 metro areas in the survey by PricewaterhouseCoopers and Lend Lease.

By Jack Burney | Updated on November 20, 2000

HOUSTON-Houston ranks 17th among 18 metropolitan areas in a survey of 150 “large” real estate experts around the country because investors “get nervous” about the city’s dependence on the energy industry and its lack of zoning.

The opinion is part of a report published in “Emerging Trends” by PricewaterhouseCoopers and Lend Lease Real Estate Investments, based on interviews with developers, brokers, institutional investors and pension fund advisers. But, there were some bright spots too. The report has cited “bargain prices” in downtown Houston office buildings, promising high returns ROI. It also is calling Galleria, Greenway Plaza and Midtown area apartments “good bets” for investors.

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