San Francisco Real Estate Market
To identify the key reasons why the San Francisco real estate market presents as a strong investment at the current time to provide investor confidence. The research should include metrics relating to the recovery and workers returning to the city.
- On 8 October 2020, the San Francisco Mayor released the report of the Economic Recovery Task Force (ERTF), which "more than "100 leaders from business, hospitality, labor, faith, education, non-profit, and community organizations have contributed too. The plan will guide San Francisco's economic recovery in the post-pandemic era."
- At the same time, Mayor Breed announced several initial steps that are to be implemented immediately. They include: "moving forward on creating a plan to make elements of the Shared Spaces program permanent, providing direct funding support to businesses, creating a pilot basic income program for artists, supporting cultural districts, delaying impact fees, and waiving certain taxes and fees for businesses that remain closed."
- The recently closed 2020 San Francisco housing estate market experienced year over year growth of 7.8% in sales. The median price of a single family home in 2020 in San Francisco was $1.65 million.
- San Francisco moved to yellow status at the end of October 2020, which saw companies bringing to the office up to 25% of its workforce.
- In the three weeks before 3 November 2020, the commercial real estate market experienced a buying spree with more than $3.13 billion invested in that Greater San Francisco area.
- With the reopening of non-essential offices, at reduced capacity, at the end of October 2020, San Francisco also loosened the reopening requirements for indoor climbing walls, indoor fitness centers, and indoor personal services increasing capacity to 25% in most instances.
- In our initial hour of research, we assessed the availability of information to support current investment in the San Francisco real estate market. There is very little information of this nature in the public domain. The available information suggests market uncertainty and cautious investment. However, we began to uncover some pertinent data as we spent more time investigating.
- With this in mind, we have suggested a unique approach to further research that will look to not only identify the signs of a strong investment market but attempt to counter any arguments in opposition.
Proposed next steps:
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