The theme of the Emerging Trends in Real Estate report is one of optimism, even though the U.S. recovery remains a slow one. The report is a joint venture between PricewaterhouseCoppers and the Urban Land institute. Jonathan Miller, a partner and co-owner of Miller Ryan L.L.C, and author of the report, said that the recovery is happening and investors are taking advantage of it.
The most popular city in the nation for real estate investments and development is San Francisco. New York held the second-place ranking, while San Jose was the third most popular place to invest in the United States. Houston and Boston completed the top five.
Major cities across the country were putting up good numbers, and the average market scores were at their highest since the early part of the decade. More cities were getting a green light indicating they had a “generally good” performance, while relatively fewer markets received a “generally poor” performance review than last year. Numbers even picked up in the Midwest, which has long been a lower than average performing part of the country.
Commercial real estate investors have become increasingly interested in pursuing opportunities in secondary markets. Properties in major gateway cities have become too expensive for many people to purchase, which means they have had to explore other options. Investors who are interested in exploring the property market in other cities have had to get in contact with local operators if they want to succeed, however. This is a long-term way to make money, but it can be successful with time and the right investments.
Researchers suggest that investors looking to make money in this market focus on choosing properties in major hub centers near ports and airports. Buying obsolete properties and renovating them can be an effective strategy if an investor can lock in low interest rates.
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