As the world emerges from two of the strangest years in recent – if not all – history, we are beginning to see some commercial markets return to normal. The real estate market was hit hard by the pandemic, and many sales on the verge of completion fell through. However, what the covid-19 crisis did do was remind many people that life is for living, and we don’t last forever.
The need for outdoor space and its benefits has been strongly highlighted in the past couple of years. Property market experts have reported growth in the numbers of people choosing to move away from towns and cities and into less populated areas. Furthermore, many people are looking at second homes, and with a rush for vacations predicted, there is good reason to invest in potential rental property in attractive areas.
One beautiful and charming coastal town that has attracted interest is South Padre Island in Texas. In this article we will talk about why this is the case and look at what you can buy in this friendly and warm destination.
Where is South Padre Island?
NextHome on the Coast is a real estate agency who has dealt with many property sales on the island and is perhaps your first port of call to get an idea of what is available.
South Padre Island is a barrier island off the south coast of Texas. It is easily reached from the mainland by a causeway from the town of Port Isabel. Stretching many miles parallel to the coast, this unusual destination has become increasingly popular over the years.
Situated just a few miles north of the Mexican border, the island is blessed with superb weather. The nearest major Texas city to South Padre Island is San Antonio which is 300 miles to the north. Nevertheless, the resort is easily reached by the major road networks in the area, and Valley International Airport is just one hour’s drive from the island.
Apart from the weather, many factors make South Padre Island a popular place to live, visit or invest in property.
Why is South Padre Island Popular?
South Padre Island is visited by tourists all year round thanks to its fabulous climate and its excellent fishing. Fishing can be from the island, or there are boats for hire, and it is a major attraction for people from far and wide. Several international fishing tournaments take place on the island and feature big money prizes.
The island is also known as a great spot for water sports with pleasure boats available and kiteboarding. The local wildlife is a major draw – watching dolphins off the coast is an experience never to be forgotten – and the area is one rich in interesting flora and fauna. The Boca Chica launch site of the SpaceX program can be viewed from the island, increasing the number of visitors.
South Padre Island has also become a popular ‘spring break’ destination for students who enjoy the impressive beaches and generally friendly ambiance of South Padre Island Town and the surrounding areas.
Many people have made the island their home, and it is a pleasant place to live. Others are seeking investment property on the island, so let’s look at what is available.
What Can I Expect to Pay for a Property on South Padre Island?
The choice of properties available on South Padre Island may best be described as varied. Most of the properties for sale are condos, with separate homes occasionally offered. There are also plenty of plots of land that have yet to be built on, which may interest investors.
The cost of property on the island is influenced by the usual factors – location, size, convenience – with waterside properties commanding a premium. Some examples on sale at the time of writing include:
- A first-floor single bed, single bathroom condo of 640ft² that is just 3 minutes from the beach for $120,000.
- $440,000 will buy a beautifully appointed 1400ft² condo with 2/3 bedrooms in a prime location overlooking the water.
- A beautiful and recently built beachfront luxury home with four bedrooms and six bathrooms is on the market for $860,000 and is right on the beach.
- If the land is of interest, $100,000 can buy you a 6,250ft² plot in a fantastic spot that would be ideal for a new-build rental of good size.
The above examples give you a good picture of what is available and the decent value of beachfront properties on South Padre Island.
Is South Padre Island Property a Good Investment Opportunity?
There has been growth in property investment in Texas of late, and South Padre Island makes for a sensible choice if an investment property is what you are looking for. Even the smallest of the condos mentioned above will net you decent rental income for very little outlay.
The large plot of land is, we think, a bargain waiting to the full and could potentially be the site of a sizable and lucrative property. Our advice is to talk with local real estate agents as they are the people who know the island and the surrounding area better than anyone.
What Else Should I Know About South Padre Island?
Before we finish, we should add that while the weather in and around South Padre Island is good all year round, this area has been seriously damaged by hurricanes in the past. However, recent storms have presented little more than heavy rain, and most property on the island is suitably weatherproofed.Whether you want a new coastal location to live, a holiday home, or a rental, we recommend that you check out South Padre Island, as it is a somewhat overlooked gem in a situation that could not be more endearing.
