Washington, D.C.; San Francisco; Austin, Texas; Boston and good old New York top the list of five projected top real estate markets for 2010, according to The Urban Land Institute.
Washington, says the report from ULI, is where “…major insurers and big banks have taken a long term view and are actually providing financing for new deals.”
In San Francisco, the ULI says “an expanding regional tech industry” should help fuel the sales of apartments, offices and other commercial spaces.
Austin, says the report, will continue to enjoy low state taxes and a pro business climate.
Boston’s apartment vacancies, says the report, are well under 10 percent while “condo/house pricing ‘remains stiff.’”
And, in New York, midtown availability rates, says ULI, are “predicted to skyrocket from mid single digits into the mid-teens…”
Predictions being predictions, who is to say if most, any or none of this will come to fruition? But considering the otherwise bleak real estate landscape out there in many parts of the nation, isn’t this, at least, a pretty cool potential gift to all investors in the year to come?
Happy New Year!
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Article Author:
Charles FeldmanCharles has written 160 articles for us.
Visit Charles's Website: http://www.thefeldmanblog.com
Charles is currently reporting for KNX Radio in Los Angeles, is the co-author of the book No Time To Think, and can be found commenting about the news on his blog, The Feldman Blog, as well as on The Huffington Post.
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{ 6 comments… read them below or add one }
Charles,
Good article. I can tell you that things here in the D.C. area are looking very good. I think we would be seeing much more appreciation if the appraisers weren’t sqaushing so many deals.
I live close to the Washington D.C area, and to know that banks and other investors are looking invest in the area for 2010. Only thing is I wont be able to invest in this area if I wanted to.
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The Hot Real Estate Spots For 2010 is encouraging news. It gives real estate investors an opportunity to research and narrow markets for potential profit and financing potential. We know this a prediction but with due diligence there is always an opportunity.
I’d say yes to Austin, yes to Washington, maybe to New York, no to Boston and San Fran.
I think we would be seeing much more appreciation if the appraisers weren’t sqaushing so many deals.
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That’s great to hear about those cities mentioned. I’ve banged the drum for the Philadelphia area for a while and things also look good here.