Boston Should Be Optimistic About '17
Looking ahead to 2017, is optimism about growth in the Boston real estate market justified? KIG Advisors president Justin Krebs tells us it is.
"I remain optimistic about 2017 for the Boston market, even under the cloud of economic concerns hovering as a result of the perceived post-election political instability," says Justin, who will be a speaker at our Boston 2017 Forecast next month.
He cites the region's diversified local economy, for one thing, which "has some of the strongest and fastest-growing sectors anchored by mature biotech, technology and innovation-driven companies seeking the most abundant pool of highly skilled workers in the country. This will continue to drive our economy ahead of national levels."
Such solid fundamentals also make Boston's commercial real estate market a safe harbor for institutional and foreign capital sources, which have increased their allocations in real estate and alternative investments as concerns of an overheated stock market grow, Justin says.
"I think the pace of development will slow a little, but absorption and market fundamentals remain strong," he predicts. "So in balance I expect Boston to continue to outperform all other major domestic markets in 2017."
Hear more about what's next for Boston at our Boston 2017 Forecast, beginning at 7:30am on Dec. 15 at the Westin Boston Waterfront. First, breakfast and schmoozing. Then, some insight. Sign up here.