The city of Sunbelt dominated the annual rankings of the notable top real estate markets of the Urban Land Institute and PricewaterhouseCoopers. A new trend report on real estate in 2022 that designated Nashville, Tennessee as the top real estate city.
In particular, Boston, the only gateway city, ranked in the top 10.
During a session at the 2021 ULI Fall Conference in Chicago, where the report was first published, PwC’s director of real estate research Andrew Warren said the top 10 markets weren’t too surprised: “People are Nashville. I was talking about Bill for many years. “
US Top 10 Markets to Monitor Overall Real Estate Outlook from ULI / PwC:
- Nashville, Tennessee.
- Raleigh / Durham, NC
- Austin, Texas
- Tampa Bay / Petersburg, St. Florida.
- Charlotte, North Carolina
- Dallas / Fort Worth
ULI and PwC researchers interviewed more than 900 individuals and received responses from approximately 1,200 individuals on their annual report.
A 111-page survey shows increased flexible work, a greater focus on climate-related real estate risk, proptech growth, and the popularity of alternative sectors for investment.
The 2022 sentiment survey outlook received more positive responses from respondents than the cycle’s highest in 2019. Warren attributed to respondents who were in the midst of the longest economic expansion in history, but worried that a recession would soon occur.
Many of the trends described in the report are not new, but some are seen differently for the COVID-19 pandemic, such as recurrence of the housing crisis, urban landscape renovation, and climate risk.
Panelists at the General Assembly on Wednesday talked about the large amount of capital currently flowing into real estate. “Everyone wants to get in,” Warren said. “The problem is that I have too much money. Will I be able to place it?”
Currently, alternative property types such as life sciences, data centers, single-family home rentals, and labor apartments are of great interest. Marcus & Millichap’s President and CEO, Hessam Nagy, said during the session that the office division, which is suffering from high vacancies in some markets, will perform better than expected in 2022. He said he was expecting it.
More than 80% of survey respondents say they consider ESG when making business decisions from an investment or investment perspective. In many cities like New York, real estate owners are now demanding reduced carbon emissions, so reducing emissions and energy efficiency is stronger than ever.
“Cities require different buildings,” Green Generation CEO and co-founder Bradford Docker said in a panel. “Reducing emissions, reducing carbon, reducing energy and water usage. It’s clear that the real estate people demand in the future doesn’t exist today.”
Top Real Estate Cities in 2022: Report
https://www.commercialsearch.com/news/the-top-cities-for-real-estate-in-2022-report/ Top Real Estate Cities in 2022: Report