Tag Archives: tourism property

Investing in Boom Towns

mining_boom_town

A boom town is traditionally a low demand area that has been revived by a major industry.  Examples of this are a regional town that has had a new mining operation started up which creates a whole lot of new job opportunities.

Other types of industries that can dramatically affect the demand of property in the area are Tourism, Government Departments, Military Bases or even Technology companies (think Silicon Valley).  It’s also possible that a town starts to become more popular due to new infrastructure (such as a train line or highway) that makes accessing it quicker and easier; however this factor by itself rarely creates the start of a boom.