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TREND S
MARK E T
Raymond Torto, Harvard University lecturer and recently retired CBRE global chief economist, and Douglas
Poutasse, executive vice president and head of strategy and research at Bentall Kennedy, cited three positive real
estate trends in their remarks at the Counselors of Real Estate annual convention in Boston last fall.
• Foreign investors continue to look favorably at the U.S. "T ey are taking a longer view, more than the traditional
f ve-to-seven year outlook," said Torto.
• Workforce housing is both a need and a driver in many markets, according to Poutasse. Both he and Torto cited
examples of af ordable housing built near medical centers such as the Cleveland Clinic in Cleveland, Ohio, and
near the tech industry in Austin, Texas, as key to driving real estate growth in those markets. In particular, today's
workers look for housing that eliminates or reduces commute time — opening up new potential locations for new
condo and multifamily development.
• Secondary cities with direct f ights to major cities are prime candidates for growth, according to Torto. "International
airports bring in capital," he said, explaining that foreign investors are more likely to invest in cities they can easily
reach by air.
Trends for 2015
2015's Top 5 Real
Estate Issues
Based on a survey of 1,400 real estate
industry participants
1. Construction costs
2. Land costs
3. Vacancy rates
4. Infrastructure
development/funding
5. Refi nancing
Source: Emerging Trends in Real Estate 2015
January | February | 2015 Commercial Investment Real Estate