“Real estate professionals are at an inflection point that will require both innovation and adaptation in order to create a resilient real estate landscape for tomorrow,” according to a new report.
As the real estate market adjusts to new normals post-pandemic, commercial and investment property sectors are shifting significantly. Retail recovery, shifting investor sentiment on climate risks and declining affordability are some of the top trends commercial real estate professionals must navigate, according to Urban Land Institute/PwC’s “Emerging Trends in Real Estate 2024(link is external)” report.
Anita Kramer, Senior Vice President of ULI’s Center for Real Estate Economics and Capital Markets. “The real estate industry is entering an exciting era of thinking, building, and operating,” states Anita. She highlights the increasing trend toward hybrid work models, strong retail sectors, Sun Belt market expansions and Nashville/Phoenix/Dallas/Fort Worth/Atlanta/Austin being some of the key cities to watch out for in 2024.
This report warns of a slowdown in development and investment prospects as we head into 2024, according to Kramer’s assessment. ULI and PwC’s report labels it the Great Reset in Real Estate with key “emerging trends” to watch out for going forward.
