Seattle Real Estate a Gateway for Foreign Investors
Nov - Dec 2014 - NWREporter
Seattle is now considered a "gateway city" by foreign investors and its single-family housing market ranks 17th among the country's top 75 markets. Those are among key findings in the 2015 edition of Emerging Trends in Real Estate that will be discussed at an upcoming breakfast program of ULI Northwest.
The event, scheduled for November 18 in Seattle, is titled "Emerging Trends 2015 A to Z: The Intersection of Commercial Real Estate with Technology and E-Commerce." It features insights from a distinguished panel of local and national experts.
Reservations for the event may be made online at the Urban Land Institute's website.
ULI's widely-read forecast report concluded "the tide has come back in." It ranked Seattle third for development and fourth for investment, noting the fast-growing city is attracting investors - and Millennials - in part because of the tech boom.
Consensus among the 43 economists and analysts who participated in the study was for three more years of solid economic growth domestically.
The "Emerging Trends" report lists Seattle as the third highest ranked West Coast city, behind San Francisco (3rd overall) and Los Angeles (6th overall). Tacoma ranked 62nd, placing it ahead of Las Vegas, Tucson and Sacramento. Texas is the top state in the rankings, with Houston ranked first among U.S. cities.
Survey respondents also remarked on diversification beyond coastal markets and the emergence of "18-hour cities" among communities that once rolled up the sidewalks at 5 p.m. "Downtown transformations have combined the key ingredients of housing, retail, dining and walk-to-work offices to regenerate urban cores, spurring investment and development and raising the quality of life for a roster of cities," according to the Emerging Trends report.
Emerging Trends in Real Estate® 2015 is a trends and forecast publication with a 35-year history. The 2015 edition was a joint undertaking of PwC and ULI. Along with an outlook on U.S. investment and development trends, it covers real estate finance and capital markets, property sectors, metropolitan areas, and other real estate issues. The content is based on interviews and surveys of more than 1,400 investors, lenders, fund managers, developers, property managers, brokers, advisors and consultants.
To read the Trends report go to http://on.uli.org/1nA9ktk.