US based commercial property values expected to rise

Posted On Monday, 18 June 2012 13:33 Published by
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The US based Urban Land Institute, an industry trade group and think tank, recently surveyed developers, brokers, architects and other real estate professionals who predicted increasing values for all types of commercial property

 

With corporate profits increasing, commercial real estate professionals expect their industry to improve in the second half of the year, according to the survey.

The apartment sector is still No. 1, followed by warehouse distribution centers, which respondents expected to jump significantly in value because U.S.- based manufacturing continues to show positive signs.

Of particular interest to buyers are industrial properties located in hotbeds of energy and high-tech markets such as Austin, Texas, and Silicon Valley, where job gains, demand from renters and rising rents are expected to lead the country.

Hotels, which placed third, had the biggest gain overall in the annual survey as corporate and individual travel grew.

Boston and San Francisco are expected to be among the leaders of rising property values, while Los Angeles values are predicted to generally remain flat.

Washington, D.C., showed the biggest decline in market investment prospects because respondents thought that its prices were already high and that federal cutbacks might reduce demand for real estate such as offices.

Source LA Times; Roger Vincent

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