Houston's Appetite for Luxury High Rises Slowing Amidst Oil Slump

The ups and downs of the oil market are having an effect on the future skyline of the city of Houston.

1 minute read

July 8, 2016, 6:00 AM PDT

"Luxury high-rise developers began to thrive during the oil boom as the condo lifestyle seemed to finally catch on with wealthy Houstonians drawn to expansive views, private terraces and resort-style pools," explains Erin Mulvaney to set the stage for an article about the state of the high-rise housing market in Houston.

That newfound interest in high-rise living, driving the construction industry in cities like San Francisco and New York, has run against a "persistent oil slump" in Houston. "Though May was a record-breaking month for condo sales locally," writes Mulvaney, "evidence of a slowdown at the high end is mounting."

The article includes more examples from the current market, as well as aggregated data and an interactive map to provide an overall picture of the high-rise luxury market in Houston.

FULL STORY: Oil worries cloud Houston's high-rise outlook

Tuesday, July 5, 2016 in Houston Chronicle

Urban Development Texas Houston High-Rise Residential high-rise development Luxury Development Oil Slump Real Estate Market Condominiums Residential Development View More

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