Market Trends
Economists see a pretty good year ahead for real estate, despite a weak world economy. “The data [are] good, but we all feel this uncertainty,” said Jeffrey Havsy, chief economist, Americas, CBRE Econometric Advisors. He spoke at a panel discussion of the semiannual ULI Real Estate Consensus Forecast, as part of a members only webinar.
It could be a bumpy first half of the year for retail real estate: Despite continued improvement in key fundamentals and a strengthening U.S. economy, the retail sector is bracing for a bigger shake-out in store closures in the next few months.
Japan and Australia remain the favorite countries for investment and development, according to Emerging Trends in Real Estate® Asia Pacific 2016, with Tokyo, Sydney, Melbourne, and Osaka taking four of the top five spots in the Asia Pacific region.
According to the latest Emerging Trends in Real Estatereport, published by ULI and PwC, Vancouver and Toronto claimed the top rankings for investment potential in Canada, placing at number one and two, respectively.
Those attending the ULI Fall Meeting in San Francisco last week heard Condoleezza Rice, former U.S. secretary of state, deliver a resounding call for the United States to do nothing less than create a new world order.
For those of you who have already downloaded the Urban Landapp for tablets and smartphones, the latest issue is now available. In addition to the Apple and Android app stores, you can now download the magazine on your Kindle Fire and Windows 8 devices.
Airbnb’s Brian Chesky shares the top spot in this year’s Fortune 40 under 40 with Uber CEO Travis Kalanick. Both companies have faced their share of controversy, but are influential in the built environment and the “sharing” economy, particularly as both look to expand internationally.
At last year’s Consumer Electronics Show, a unique fusion occurred: real estate, which ultimately is about presence, met phones and other devices that link people and places.
Universities are joining real estate with related business and design curriculums—and boosting their hands-on experiences for students.
Lows and highs were energized this month: unemployment dropped to an almost four-year low; cap rates stayed near four-year lows, but moved enough to suggest a broadening buyer appetite for secondary markets; CMBS issuance vaulted to an almost five-year high; and multifamily permits were near four-year highs.