Commercial and Residential Real Estate Trends

Goals

Determine 2020 mega real estate trends affecting the commercial and residential real estate markets in three areas: Connecticut, Providence, RI and Boston, MA.

Early Findings

Commercial and Residential Real Estate Trends

Connecticut

  • Based on the Kiplinger Economic Outlook report, the housing demand in Connecticut remains flat in the central and western section of the state.
  • There is some anticipation that the demand will increase for residential and commercial spaces as more companies such as Ensign-Beckford expand its operations in the state.
  • However, the state's low population is seen to limit the real estate growth in the state.
  • This is also consistent with the economic report of the governor.

Boston, Massachussetts

  • As more technology, biotech, and pharmaceutical companies expand their operations in Boston, more commercial spaces are expected to be added in the city.
  • Foundation Medicine, Novo Nordisk, Verizon, Google, Apple, and Amazon are some of the companies that
  • Housing remains to be a major concern in Boston.
  • However, the Federal Reserve's action steps to curb interest rates and reduce mortgage costs are expected to address the housing problems in the city.
  • Nvertheless, the residential sector continues to thrive in the city as around 20,000 apartments are being built in the area.

Providence, Rhode Island

  • More hotels are being built in Providence, Rhode Island.
  • Furthermore, the residential building sector continues to grow as more people are showing preference for urban living.
  • For the whole state, more high-tech commercial buildings are being constructed to make room for employees from startup firms.

Proposed next steps:

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Our initial report provided some 2020 key trends in commercial and real estate in Connecticut, Providence, RI, and Boston, MA based on key reports. Given that there are available resources on this, we propose to continue with the research to provide 2-3 additional key trends affecting commercial real estate markets in each of these areas in 2020. For each trend, we will include a brief overview of the trend, why it is considered to be a key trend, and explain factors that drive these trends.
We also recommend undertaking additional research to provide 2-3 challenges affecting commercial real estate markets in each of these areas in 2020.