The past couple of years have had a massive effect on the US real estate market and across the world. The covid-19 pandemic practically shut down real estate. Agents could not hold viewings or open house days, and construction projects ground to a halt. Interestingly, once the US began to open up again, the real estate market was suddenly in great demand.
Many people – having been forced for the first time to spend extended periods in their homes with all the family – realized that the property they occupied was not suitable for such living. Furthermore, many came to recognize that open space is important. Others simply wanted to move and start afresh, and then there’s the investment problem.
For people looking to invest in US real estate, the post-covid era offers great opportunities. Not only that, but some simply fantastic and largely untapped areas would make a great place to live, a location for a second home or a rental property. This article looks at buying condos in South Padre Island, Texas, and why this charming coastal location is set to become ever-more popular.
What’s Special About South Padre Island?
According to NextHome on the Coast – a specialist coastal property dealer – there are plentiful opportunities if you’re looking for a condo on South Padre Island. Before we talk about the sort of property you can expect to find, let’s look at the resort itself.
South Padre Island is a barrier island on the coast of Cameron County, Texas. It is a resort destination and is reached via a causeway from Port Isabel. A population of fewer than 3000 makes this an exclusive and desirable location.
The island has become something of a spring break attraction for students. It is home to many condos and hotels and is popular as a summer holiday resort for families. It’s worth noting that it is a less overrun destination in the peak seasons and offers plenty of attractions that we will talk about shortly. First, let’s have a quick look at the sort of property you can expect to see on sale in South Padre Island.
What Property is Available and How Much is It?
The property market in South Padre Island is buoyant, with a variety of condos available in some beautiful locations. A quick look found an attractive two bed, 2-bathroom condo in a waterfront location and with easy access to the causeway at a price of around $200,000. At 744ft², this is a perfect choice for a couple looking for a getaway home and would be easy to let as it is close to the local fishing spots and other amenities.
Further up the price scale is a 2000ft² condo with three beds, three baths, and luxury furnishings throughout. With stunning views and an ocean-front location, this is great value at around $650,000.
Unbeatable spots are waiting to become a home for someone who wants to live in a unique yet surprisingly convenient location. The island offers plots for building from $200k up o $1.5 million and potentially beyond. Let’s look at why people come to South Padre Island and what is here should you choose to make it your home.
What are the Local Attractions on South Padre Island?
At first glance, South Padre Island may not appear to have a lot going for it, bar the warm to hot climate and the beautiful coastal location. However, visitors and locals come here for the following attractions:
Water sports are big business around the island, with boat rental for pleasure cruises an enjoyable pursuit.
- Fishing is great here, and many anglers come long distances to fish from the shore or a chartered boat. The Texas International Fishing Tournament is just one of many on South Padre Island and offers prizes of up to $250,000.
- The wildlife around the island includes plentiful dolphins that you can watch from organized trips.
- Great views of the SpaceX Texas launch site have drawn in visitors from far and wide.
- The island has become a primary spring break destination for students from near and far during March.
The above are all attractions that will mainly interest visitors, although many locals live here because of the fishing and the ocean. For anyone setting up a home here, be aware that while the amenities and facilities are perfectly good, this is not a large town or city but a coastal resort. If that’s what you’re looking for, South Padre Island should be high on your list of Texas destinations.
Will a condo on South Padre Island be a Good Investment?
If you are looking to buy a condo in South Padre Island as an investment, you should keep an eye on trends in coastal property in the region. The current trend is that buying as a rental is on the rise, but it’s worth knowing that more people than ever are choosing this sort of location as their home. They have undergone lockdowns during the pandemic. They may have recognized that being stuck in a beautiful waterside home has its attractions.
You should be aware that South Padre Island is in the hurricane region. The worst damage came when Hurricane Beulah hit the island in 1967 and caused extensive damage. Hurricane Dolly resulted in one condominium being gutted thanks to the damage in July 2008. Later hurricanes such as Alex in 2010 brought heavy rains but little in the way of damage.
The simple answer is yes: South Padre Island is a good place to buy a rental condominium or take advantage of still virgin land in some fantastic spots around the town and coast. Make sure you do your homework on what is an increasingly popular and entirely charming destination, and you’ll find that it is a place you enjoy more every time you visit.