2018 will be an exciting year as the economy continues to expand and new bills go into effect. There will be a few trends in the commercial real estate industry you can expect to see!
1. The cycle length will shorten
The cycle length of finding, selling, or leasing a building on average, in the commercial real estate industry, will be shorter. The industry is on fire and it will show in 2018.
2. Multifamily construction will continue to rise
Multifamily construction has been on the peak and will continue to expand. These include apartments, condos, townhouses, and multi-purpose complexes.
3. Office market will remain flat
According to Bisnow, “The general consensus regarding next year’s office real estate performance is that growth will slow and fundamentals will plateau as accelerated construction puts upward pressure on absorption and vacancy rates.”
4. Data center demand is here to stay
Data center demand has been gearing up in 2017, and it looks like it’s here to stay. Public and private operators, so far, have outperformed other real estate asset classes.
There are many more changes to come and even more things to stay. What kind of trends do you expect to see in Tampa in 2018?