Here are some trends to look for this year according to Forbes:
- Increased spending on new and existing properties. There is notable interest in renovation projects and expansion geographically and by property type. These trends are expected to support the growth of rental property businesses and facilitate expansion into new markets.
- More demand for flexible spaces. Increased demand for hybrid work spaces in prime locations as more investors and tenants prioritize eco-friendly, durable properties. This means buildings are being increasingly evaluated on emissions and resilience to floods and extreme weather.
- A shift away from high risk areas. There will be an uptick in investors systematically moving away from high-risk areas due to insurance exposure and rental cancellations. This may include the Southeast with increased hurricane risk or the Northwest with heightened wildfire risk.
To be continued...
What are your investment goals for this year? I am curious to know what the plan of attack is and how I can help.