Excerpts from the “Emerging Trend In Real Estate, United States and Canada 2015” published by PwC and Urban Land Institute.
“Raleigh/Durham rounds out the top ten markets in this year’s survey. Interviewees expressed interest in Raleigh/Durham due to the attractiveness of the market to the millen- nial generation along with a number of projects that are enhancing the urbaniza- tion of Raleigh/Durham. This activity is creating an environment that is conducive to attracting and retaining a high-quality workforce. In addition to a highly quali- fied labor force, Raleigh/Durham offers companies a very competitive cost of doing business.
The trend toward a more urbanized feel has survey respondents feeling positiveabout the Raleigh/Durham office mar- ket, and it is ranked number seven. The appeal of the market to future residents is being reflected in a single-family housing ranking of number nine and a retail rank- ing of 13. The industrial sector in Raleigh/ Durham has historically been skewed toward higher-finish product that has been designed to serve the local tech- nology industries. Survey respondents feel relatively good about the industrial market in Raleigh/Durham, and it is cur- rently ranked number 15. The multifamily ranking for the market is just outside the top one-third of markets at number 29. The lower ranking may reflect the relative affordability of single-family housing. The hotel sector is the lowest-ranked property type in Raleigh/Durham for 2015.
Raleigh/Durham is more of an emerging market in terms of institutional inter-
est, and capital flowing to the market is expected to continue to increase. The market does, however, have a very strong local property owner community. Local market participants feel that the strength of the local economy will drive activ-
ity in 2015. The continued strength of the economy could provide investment opportunities for a growing institutional investor base as well as support the strong local development community.”