Recent arrivals include couples like Debra Jones and Robin Gould, who had never been to San Antonio when they decided to take a day trip during a property search in Austin. The retired couple was searching for warmer winters than they had at home in Bend, Ore.
“We’d been in the city for three hours when we made an offer on our first apartment,” said Ms. Jones, 62, laughing at the memory from four years ago. Last year, the couple upgraded to a $1.2 million, three-bedroom apartment on top of the Grand Hyatt hotel in downtown San Antonio; they live there full-time. They can see the Alamo and the River Walk from their living room window. The couple still owns the first apartment they bought, plus a share in four other downtown units, which they purchased over the last year in order to rent out.