Real estate market fundamentals have continued to improve in recent years, with strong indications that this upward trend will continue all throughout 2014. Investor interest is expected to expand this year from the traditionally popular markets to the secondary markets as well, particularly due to a desire to protect capital and earn a higher return.
According to Emerging Trends in Real Estate 2014, a forecast report co-published by PwC US and the Urban Land Institute (ULI), the secondary markets will gain momentum as opportunities in premier markets become harder to find and the best assets become more expensive. As a result, core markets such as Boston, Chicago, Los Angeles, New York City, San Francisco and Washington will vie with other major hubs around the country, including Houston, San Jose and Miami, for landing top investment and development deals. “The focus is now on top 25 markets, not the top six,” said a fund manager cited by the report. “We like markets that have the potential for growth.”
Read more...Gaining Momentum | The Balance Sheet - Yardi Corporate Blog
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