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Friday, December 12, 2014

Market Report 2015 Sneak Peak - Day 3 "The top trends in real estate for 2015"

The top trends in real estate for 2015, according to Emerging Trends, include the following:

1. The 18-hour city comes of age.  The increase in downtown transformations combining the key ingredients of housing, retail, dining, and walk-to-work offices will cause increased investment and development in the next level of cities outside of 24-hour markets.  These re-emerging downtown's will be “18-hour” markets and will include places like Raleigh-Durham, Charlotte, Denver, and perhaps in the future, Kansas City.  The key to 18-hour markets is the City’s ambition to strengthen its urban centers as live/work/play environments.

2. The changing age game.  Millennials prefer renter by choice multifamily housing versus home ownership. Expect this to be at least a seven year trend before millennials will have to make a decision about whether to stay urban or move to the suburbs.  Expect the over $1 trillion in student debt to further slow home ownership for this group.  With 77 million baby boomers on the leading edge of retirement age, expect an increase in resort and retirement communities as well as more movement from home ownership to rental living.  Also, anticipate medical office as a strengthening trend to serve the aging boomers market.

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Every year, Block Real Estate Services, LLC (BRES) releases our comprehensive Market report, lending insight on commercial real estate in the Kansas City market. Kansas City continues to see many more exciting development projects planned, under construction or just completed over the next 24 months as well as strong investment activity.

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Market Report 2015 Sneak Peak - Day 3 "The top trends in real estate for 2015"

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