Will your city see a real estate boom?

by MPA30 Oct 2014
By Sam Cohen
Special to MPA

The US real estate industry is trending towards an upsurge with continuous contributions from foreign as well as domestic investors. According to Mitch Roschelle, real estate advisory practice leader at PwC, and based on several interviews and surveys, the real estate market has seen a sustained growth as compared to the previous years.

Investors in the real estate market today are looking more towards opportunities backed by livability, employment prospects, leisure activities as well as cultural exposures. Quite a few cities have emerged in the growing real estate trend. Let us take a look at the emerging cities that have emerged as good real estate investments.

About Upcoming cities:
  1. Houston: This Texan city has been ranked at the top of the list in terms of developmental expectations and secures second position in real estate business.
  2. Austin: This is another Texan city that has made the list of top ranked cities where the real estate market is booming. This is in fact, a prospective city for retail, housing region as well as the office sector.
  3. San Francisco: This city in the west coast ranks at the top for investment in the hotel industry. The year 2015 will see much more investment options in this city. San Francisco ranks third in the office market industry and fourth in the retail sector.
  4. Denver: If you want to invest in this Colorado city, do it in the right sector. This city is best for retail and office sectors.
  5. Dallas-Forth Worth: A survey in 2014 concluded this Texas city to rank in the top position in the real estate sector and the fourth position in the industrial sector.
Trending areas for real estate: Quite a few cities have moved up the chart owing to the massive urbanization in the country, opening large scopes and opportunities for the housing, office, and dining industry. The quality of life is rising and this means a lot of cities in America will see a rise in real estate investments. If investors are choosing to find a changing game then they must look for cities or even countries that have lesser houses. The game plan could see a change in growth in another 6 years to come but just like now, the baby boomers are said to be still influential in the real estate and investment market.

About labor markets: Real estate agents will benefit from better connection with people in the real estate business as well as prospective customers in the coming years. Based on the survey by PwC, survey respondents see the labor markets moving towards a tipping point and employment as being a major concern rather than increasing opportunities. According to forward looking businesses the long-term market may see an issue with job growth in the real estate industry which may be followed by income as well as growth. Job growth has been slow paced and this in turn is holding back the real estate industry from recovery. Survey responders say that this situation may need some more time to improve. However, many cities in Texas as well as the Bay Area have already seen housing recoveries because of their economy. 



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