DALLAS, Feb. 12, 2017 /PRNewswire/ -- With an unprecedented surge in the amount of corporate relocation to Dallas, and rising numbers in both employment and the next generation of homebuyers, costs in the city's property market are climbing to new heights. As one of the state's most prominent community developers for the last three decades, Marcus Hiles' wealth of experience has given him a comprehensive understanding of the current trends. With myriad interests driving up prices, he explains the most important factors impacting the future of the area.
In the heart of Dallas city limits and within its nearby towns, businesses are purchasing buildings for astronomical, headline-grabbing amounts. Due to construction costs and the escalating valuation of land, capital is flowing into the area from domestic and international sources willing to pay premium rates for office locations. Like corporations, buyers on the hunt for lower-priced homes are facing difficulty with many opting to rent instead. Marcus Hiles' Dallas based company has confirmed increased interest in his luxury rentals as conditions have limited the amount of entry-level houses below $250,000 for first-time homeowners.
As well-known companies like Toyota relocating to the metroplex, Marcus Hiles notes that corporate giants arriving to the region are in need of an expanded workforce. Upwards of 400,000 jobs have been created in the area in the last two years. Beyond the need prompted by industry, generational shifts are redirecting home seekers towards the suburbs. More millennials are moving towards planned communities outside of downtown or uptown apartments than ever before.
Chairman and CEO of Western Rim Property Services, Marcus Hiles is a developer and philanthropist whose unique vision for luxury living has led to his successful creation of upmarket rental townhomes and apartments across the Lone Star State. In addition to offering working class Texans chic residences that feature hotel-style amenities and contemporary design, Hiles has donated more than 59 acres of parkland designated for public use, wildlife habitat preservation and the protection of the state's lakes, streams and rivers.
Marcus Hiles - Chairman & CEO of Western Rim Property Services: http://www.MarcusHiles-News.com
MarcusHilestx (Marcus Hiles) - DeviantArt: http://marcushilestx.deviantart.com
Marcus Hiles (@marcus_hiles) - Twitter: https://twitter.com/marcus_hiles
Marcus Hiles - New Luxury Apartments in Frisco, TX - YouTube: https://www.youtube.com/watch?v=dmsJNbfOh-g
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SOURCE Marcus Hiles