Real estate market of the United States has another reason to rejoice. Reports from major real estate associations suggest that prospects of commercial real estate will improve further in the year 2015. In addition to tighter vacancy rates, the New Year will also witness rent increase.
Mr. Lawrence, Chief Economist at NAR, stated that positive economic signals in the latter half of the year has laid foundation of positive sentiment in commercial real estate market. Better business spending and commercial construction in the 3rd quarter also contributed hugely to the future growth story of commercial real estate.
The apartment-rental sector will remain landlord’s market next year as well, making it more lucrative for people with investment homes and apartments. While statistics paint a bright picture for commercial real estate market, only time will tell how the market will respond.
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