A new Urban Land Institute survey of leading real estate economists and analysts nationwide was optimistic about the overall economy and commercial real estate prospects. The results of the “ULI Real Estate Consensus Forecast,” presented via webinar on March 28, predicted CRE transaction volume to increase by nearly 50%; issuance of commercial mortgage-backed securities to more than double and the multifamily property sector to experience a continued drop in vacancy rates.
Other interesting tidbits from the survey, which was conducted by the ULI Center for Capital Markets and Real Estate among economists and real estate analysts between Feb. 23 and March 12, included a predicted vacancy rate drop of 1.2% to 3.7% for office, retail and industrial properties. Furthermore, rents are anticipated to increase for all property types; in 2012, the increases are anticipated to range from 0.8% (for retail) to 5% (for multifamily housing).
Read more...GlobeSt.com - ULI Survey Offers Optimistic Commercial Real Estate Forecast - Daily News Article
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