Emerging Trends in Real Estate, a trends and forcast publication now in its 34th edition, is one of the most highly regarded and widely read forecast reports in the real estate industry. Here is a brief list of emerging plays or "best bets" for 2013. Is Jacksonville ready to cash in?
Investing in itself over the last two decades, Charlotte is now considered a leading secondary city.
4. Use caution investing in secondary and tertiary cities
Focus on income-generating properties, and partner with local operators who understand tenant trends and can leverage their relationships. Leading secondary markets include Austin, Charlotte, and Nashville. Currently, Jacksonville is not a leading secondary and tertiary community.
5. Begin to back off apartment development in low-barrier-to-entry markets
These places tend to overbuild quickly, softening rent growth potential and occupancy levels probably by 2014 or 2015. Could this be an omen for the proliferation of multifamily residential in Jacksonville's Southside?
6. Consider single-family housing funds
Housing markets finally limp off bottom, and major private capital investors make a move into the sector.
7. Repurpose the surfeit of obsolescent properties
Whether abandoned malls, vacant strip centers, past-their-prime office parks, or low-ceiling warehouses, a surfeit of properties requires a rethink, a teardown, and in many cases a new use. These properties offer creative planners and developers a myriad of opportunities. Our neighborhoods have a plethora of obsolescent properties. What are we doing to encourage their reuse?
According to the Emerging Trends in Real Estate 2013 report from ULI, the real estate recovery will continue in 2013 as modest gains in leasing, rents, and pricing will extend across U.S. markets and improve prospects for all property sectors. Do you think Jacksonville is in good position for investors to take advantage of these nationwide emerging plays? If not, what will it take to maneuver our fortunes?
source: 2013 Emerging Trends in Real Estate by PwC and the Urban Land Institute (ULI)
For more information visit: http://www.uli.org/emerging-trends/emerging-trends-in-real-estate-2013/
Urban Land Insititute North Florida: northflorida.uli.org/