Trends in Commercial and Residential Real Estate
To find out key real estate trends that will affect the commercial and residential real estate markets in Connecticut, Providence, RI and Boston, MA in 2020.
- Providence is implementing a comprehensive economic development approach, with components of design and technology, health and wellness, urban foods, and maritime enterprises.
- It has succeeded in attracting 20,000 new residents since 2010, a growth rate that is slow but is expected to move in the right direction 2020 as well.
- Zillow predicts the median home value in providence to go up by 5.1% in 2020.
- The residential housing market in providence is presently denoted as ‘Very Hot’ by Zillow as the projected growth rate of 5.1% surpasses the growth rate of 4.6% noted over the past year of 2019.
- As reported by bizjournals.com, despite some recent headlines, the outlook for the global and national real estate market is for slowing growth rather than contraction in 2020, and the Boston landscape remains quite positive within that macro context.
- The strength of technology, health and medical sciences, and the diverse service sector is expected to keep Boston ahead of the pack.
- Across property segments, tech and life science innovators, new uses such as flex space and experiential retail, and demographically favorable apartments and urban logistics are increasingly driving demand and garnering investor interest.
- According to mashvisor.com, the median property price and the price per square foot in Boston is expected to be around $875,500 and $699 in 2020
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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