The economic clouds seem to be parting, and new data from the Allen Matkins/UCLA Anderson Forecast California Commercial Real Estate Survey and Index shows California should expect sunny days ahead. Continued recovery and accelerated growth are on the horizon, according to the May 2013 survey results.
Nonresidential building should keep its quickened pace until 2016 or 2017, when growth will apply the brakes slightly. Industrial markets will experience limited growth due to a weak export market, but it should remain healthy nonetheless. On the residential side, multi-family markets—especially near transportation centers—should see an uptick in development and demand.
San Francisco is expected to continue its breakneck run into higher values, rental rates and building, with Los Angeles and Silicon Valley experiencing smaller, yet robust, increases.
The Commercial Real Estate Survey and Index predicts future California commercial rental and vacancy rates by surveying commercial developers and financiers for market insights. Survey results provide a leading indicator of supply conditions through insight into respondents’ potential real estate investment decisions.
UCLA Anderson Forecast is one of the most widely watched and often-cited economic outlooks for California and the nation. California-based Allen Matkins is a law firm with approximately 220 attorneys in Los Angeles, San Francisco, Orange County and San Diego.
Click for more on the Survey and Index, UCLA Forecast and Allen Matkins.
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