Nan & Co. Properties targets foreign buyers’ demand for Houston condos

  • Houston's condo prices are lower than other major metros.
  • You can catch a direct flight to every major Mexican city from Houston.
  • A 99-unit condo tower in the Galleria is 50 percent pre-sold after breaking ground in October.

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The demand for Houston condos within the Galleria and River Oaks District is being driven in large part by foreign national buyers. According to Nancy Almodovar, CEO of Nan & Co. Properties, foreign nationals, namely those from Mexico and Latin America, 'love' Houston condos. A number of these foreign buyers are looking to purchase units, often on a presale basis, as second or investment homes, while another portion are relocating to Houston. This interest is of good news to brokerages like Nan & Co., which caters to foreign national buyers. "Is it slowing Houston, not at all," Almodovar said, pointing to Randall Davis' 99-unit condo tower in the Galleria, which is more than 50 percent pre-sold. The development, dubbed Arabella, broke ground this past October. Breadmaker / To better corral foreign buyers the brokerage recently partnered with to be the site's designated firm for all Houston condo listings. "This benefits our ...