If
forecasts are considered, 2015 bodes well for most areas of real estate.
Riding on
the strength of an economy steadily recuperating from a disastrous fall in
2008, commercial construction across the U.S. will continue its moderate but
certain growth as vacancy rates drop substantially.
 |
| Image Source: theconstructionsolutionsgroup.com |
According
to Forbes.com's Bill Conerly, spending on warehouse, office spaces, and other
non-residential properties has shot up 10 percent and office construction
increased 17 percent. Consequently,
office vacancy decreased by 16 percent.
Likewise, hotels have enjoyed higher occupancy rates than the previous
year. The forecast is indeed rosy,
insofar as demand and revenues are concerned.
 |
| Image Source: ais1.com |
Glad
tidings also await residential realtors.
The economic recovery trickles down to the housing market. Not only big housing markets like Dallas and Los
Angeles are benefiting from the upswing, but also mid-sized cities and upcoming
markets like Des Moines, Minneapolis, and Phoenix, and even formerly worst-hit
markets like Atlanta.
The
better news is that the strength displayed by these cities is not merely built
on a house of cards: most of these
cities have gained enough traction to witness further growth in the next five
years. Realtor.com presents a list of
hot housing markets to dominate the industry in the coming year.
 |
| Image Source: incomepropertyusa.com |
Meanwhile,
on the global real estate front, many parts of Europe are beginning to pick up
the pace as they gradually recover from political and economic uncertainty in
the last few years.
UK-based
real estate consultancy firm Knight Frank notes a growing demand in luxury
properties in that side of the world.
Forbes has now touted previously troubled cities like Dublin, Rome, and
Madrid as rising stars in top-tier real estate.
Meanwhile, newly developed neighborhoods in mega-cities like London,
Geneva, and Paris are also on the rise.
Besides managing his renewable energy business, Carl Rheuban is a property consultant with decades of experience in real estate. Subscribe to this blog and be informed about the trends shaping the real estate industry.
