Nan and Company Properties Offers Several Beachside Homes on the Island
Galveston has long been one of Texas’ best-kept secrets and drivable destinations. Its scenic beaches, deep-rooted history, and eclectic attractions bring in tourists and locals alike — beckoning more than 7 million visitors to its shores each year. According to Nancy Almodovar, CEO of Nan and Company Properties, Galveston’s increasing popularity has led it to become one of Texas’ hottest short-term rental markets. This coastal city is no longer just a seaside escape, but a fruitful and lucrative opportunity for investors.
“Galveston has evolved into more than a vacation spot,” says Almodovar. “It’s a strategic investment platform offering significant returns in the short-term rental market.”
Just about 50 miles from Houston, the fourth-largest city in the country, there are 10 million people within driving distance of Galveston.
Investors have realized Galveston’s potential and started to act on the opportunity. There has been an increase of 50 percent in the number of short-term rentals in Galveston, such as this tiny home listing on 32nd Street, over the past two years. Experts attribute this rapid growth to a variety of factors.
In terms of demand, Galveston has no shortage of people looking for a place to call home during their holiday. Just about 50 miles from Houston, the fourth-largest city in the country, there are 10 million people within driving distance of Galveston. The city’s affordability also attracts tourists for weekend escapes or longer jaunts. With renowned attractions like The Strand, the Texas Seaport Museum, and Moody Gardens, there is no shortage of tourist infrastructure — all of which leads to an ideal vacation market.
From an investment perspective, Galveston’s high demand, the potential for consistent occupancy both during and off-peak seasons, and relatively high average daily rate shape it into an ideal short-term investment opportunity. Vacationers are increasingly turning to Airbnb and other short-term rental platforms when looking for lodging.
There has been an increase of 50% in the number of short-term rentals in Galveston.
In a recent podcast episode of Houston real estate podcast Real Estate Happenings, local Galveston expert and agent Jennifer Delaney noted the opportunities available with short-term rentals on the island.
“There’s a strong market because there’s not a lot of apartments in Galveston, nor multi-family,” says Delaney.
While short-term rentals of course have their own considerations — from addressing occasional disturbances from guests to property upkeep to impeccable customer service — there’s no denying that the benefits and profits of Galveston’s short-term rental market outweigh any challenges.
If you’re looking to invest in the short-term rental market, don’t sleep on Galveston, or you just may miss your opportunity.