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.

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