This document provides an overview of residential and commercial real estate trends in the Capital Region and nationally. For residential real estate, it summarizes data on housing sales, permits, affordability, inventory and prices. It also shows migration patterns to and from the Albany area. For commercial real estate, it provides data on industrial and office space inventory, vacancy rates and lease rates. Overall, it presents a picture of a strong but slowing residential market nationally and a tight industrial market regionally.
Economic Development Update - Garrett County, MD (09.24.2013)Kim Durst
Garrett County, Maryland has experienced steady economic growth despite a stagnant population. While the population has remained around 30,000 since 2000, total employment has risen 17.5% from 17,470 in 2000 to 20,681 in 2010. The county's unemployment rate, while showing seasonal fluctuations, has decreased and remains below state and national averages. Additionally, per capita income has increased, lagging the national level by only 8.7% in 2010. Overall economic indicators point to a diversifying economy with growth in sectors like manufacturing.
The document summarizes May 2019 building statistics from StatsSA. It finds that residential building completions continued strong growth of 56% year-over-year due to lagged effects of improved sentiment in 2017-2018. However, residential building plans passed have declined since mid-2018, suggesting future completions may slow. Non-residential building was mixed, with industrial/warehouse seeing stability but office and retail facing pressures of high vacancies and weak consumer spending that could lead to declining construction.
Austin's office market continues to see strong growth in 2014, with over 2.4 million square feet under construction. In Q2 2014, Austin posted positive net absorption of 85,623 square feet. The average citywide rental rate increased 0.9% over the quarter to $27.77 per square foot. The local economy is forecast to add 68,000 to 72,000 new jobs in 2014, which will help drive further growth in the office market.
BMI-BRSCU (est 1990) is engaged in data analysis of the Building and Construction Industry for 30 years. An holistic, systemic approach is followed incorporating the economic, political and Building environments. The news is also analysed in analysing the environment and developed a future scape based on the signals trending in the environment.
Austin’s industrial market rental rates rise after nearly a decade of stagnant rates.
Since the first quarter of 2014, citywide rates have been on the rise after years of stagnation. The citywide average quoted industrial rate increased by 4.5% between quarters from $7.99 to $8.35 per SF NNN, and increased 21% on a year-to-year basis from $6.90 per SF NNN.
Though vacancy increased slightly over the quarter from 8.4% to 8.8%, likely due to the high amount of industrial product delivered last year, Austin’s citywide vacancy rate has been steadily decreasing since Q1 2010.
Only one building, totaling 199,865 square feet, delivered in the first quarter and 692,895 square feet are currently under construction. All but one of these buildings is scheduled to deliver in the second quarter of 2015.
According to the Texas Workforce Commission, the Texas economy and employment across all major industry sectors continue to grow. Austin’s unemployment rate fell to 3.4% from 4.6% over the year, lower than both the state and national average.
Austin was the third fastest growing metro area in the nation during the past year with the population expanding by 3% between July 2013 and July 2014, according to the U.S. Census Bureau’s recent data.
2020 Market Outlook Presentation - Dr. Lawrence YunJessKern
- The US economy grew at 2.9% in 2018 but is expected to slow in 2019 and 2020. Consumer confidence remains high while corporate profits and business investment have been strong.
- Housing markets have slowed with existing home sales not breaking higher and inventory remaining low. Mortgage rates have declined but affordability issues remain.
- The economic outlook predicts no recession in 2020 if there is no major trade war, with GDP growth of 1.6% and continued job and housing market growth, albeit at a more moderate pace than prior years.
Economic Development Update - Garrett County, MD (09.24.2013)Kim Durst
Garrett County, Maryland has experienced steady economic growth despite a stagnant population. While the population has remained around 30,000 since 2000, total employment has risen 17.5% from 17,470 in 2000 to 20,681 in 2010. The county's unemployment rate, while showing seasonal fluctuations, has decreased and remains below state and national averages. Additionally, per capita income has increased, lagging the national level by only 8.7% in 2010. Overall economic indicators point to a diversifying economy with growth in sectors like manufacturing.
The document summarizes May 2019 building statistics from StatsSA. It finds that residential building completions continued strong growth of 56% year-over-year due to lagged effects of improved sentiment in 2017-2018. However, residential building plans passed have declined since mid-2018, suggesting future completions may slow. Non-residential building was mixed, with industrial/warehouse seeing stability but office and retail facing pressures of high vacancies and weak consumer spending that could lead to declining construction.
Austin's office market continues to see strong growth in 2014, with over 2.4 million square feet under construction. In Q2 2014, Austin posted positive net absorption of 85,623 square feet. The average citywide rental rate increased 0.9% over the quarter to $27.77 per square foot. The local economy is forecast to add 68,000 to 72,000 new jobs in 2014, which will help drive further growth in the office market.
BMI-BRSCU (est 1990) is engaged in data analysis of the Building and Construction Industry for 30 years. An holistic, systemic approach is followed incorporating the economic, political and Building environments. The news is also analysed in analysing the environment and developed a future scape based on the signals trending in the environment.
Austin’s industrial market rental rates rise after nearly a decade of stagnant rates.
Since the first quarter of 2014, citywide rates have been on the rise after years of stagnation. The citywide average quoted industrial rate increased by 4.5% between quarters from $7.99 to $8.35 per SF NNN, and increased 21% on a year-to-year basis from $6.90 per SF NNN.
Though vacancy increased slightly over the quarter from 8.4% to 8.8%, likely due to the high amount of industrial product delivered last year, Austin’s citywide vacancy rate has been steadily decreasing since Q1 2010.
Only one building, totaling 199,865 square feet, delivered in the first quarter and 692,895 square feet are currently under construction. All but one of these buildings is scheduled to deliver in the second quarter of 2015.
According to the Texas Workforce Commission, the Texas economy and employment across all major industry sectors continue to grow. Austin’s unemployment rate fell to 3.4% from 4.6% over the year, lower than both the state and national average.
Austin was the third fastest growing metro area in the nation during the past year with the population expanding by 3% between July 2013 and July 2014, according to the U.S. Census Bureau’s recent data.
2020 Market Outlook Presentation - Dr. Lawrence YunJessKern
- The US economy grew at 2.9% in 2018 but is expected to slow in 2019 and 2020. Consumer confidence remains high while corporate profits and business investment have been strong.
- Housing markets have slowed with existing home sales not breaking higher and inventory remaining low. Mortgage rates have declined but affordability issues remain.
- The economic outlook predicts no recession in 2020 if there is no major trade war, with GDP growth of 1.6% and continued job and housing market growth, albeit at a more moderate pace than prior years.
- Big-box demand continued in Houston with population-driven users like Costco and Ikea making long-term commitments through major land purchases and planned developments.
- While northern submarkets led leasing activity earlier in the year, the southeast submarket captured over 50% of deals in Q4 2018, including several large expansions by distribution companies.
- New industrial supply slightly outpaced demand in 2018, causing vacancy to rise slightly from 4.9% to 5.1%, but this small increase does not threaten Houston's landlord-favorable market conditions.
- Big-box demand continued in Houston in Q4 2018, with Costco purchasing 150 acres and Ikea acquiring 164 acres for large projects.
- The Southeast submarket captured over 50% of leasing activity in Q4, with several large expansions by distribution companies.
- While demand outpaced supply, new deliveries in 2018 finished ahead of net absorption, causing vacancy to rise slightly from 4.9% to 5.1%.
A look into the real estate figures of the residential markets across Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad, Kolkata and office markets across Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai for the period January – June 2017 (H1 2017).
The document provides an economic outlook and real estate market analysis from Lawrence Yun, Chief Economist at the National Association of REALTORS. It summarizes housing market trends showing increases in home sales, prices, and construction over the past two years in the US overall and specifically in St. Louis and St. Charles counties. It also discusses factors that could impact the housing recovery in 2014 such as rising mortgage rates, tight inventory, and policy changes.
The document provides an overview and analysis of the Q4 2017 industrial real estate market in Cincinnati. It finds that the market saw strong activity throughout 2017, with high leasing velocity and steady construction levels keeping vacancy rates at record lows despite new supply coming online. Several large leases of newly constructed buildings were signed in Q4. The outlook for 2018 remains positive, with numerous planned developments in the pipeline and low vacancy indicating continued landlord dominance and rising rental rates.
Dr. Lawrence Yun - Real Estate Outlook - Global 2018Paul Costello
The document summarizes the outlook for the US real estate market according to Lawrence Yun, Chief Economist at the National Association of REALTORS. It notes that while the domestic economy remains strong with job and wage growth, the housing market is slowing due to low inventory, weakening affordability, and diminished optimism among buyers and sellers. It also discusses trends in home prices, sales, construction, and mortgage rates, as well as the outlook for commercial real estate.
During ICCI's May Business Lunch, keynote speaker Antony Kelly shared with our business community key insights on end of the financial year main figures.
Residential building activity in South Africa remained subdued in late 2017, with the number of building plans approved and housing units completed both slightly down compared to the previous year. Building costs increased by an average of 9.5% year-over-year due to rising construction costs, though the increase was lower at 4% after adjusting for inflation. Levels of confidence in the building industry also remained downward, and overall residential building activity for 2017 is expected to show limited growth.
The document provides an overview of the Mumbai residential and office markets between July and December 2017. Some key points:
- Residential launches fell 36% YoY while sales dropped 8% YoY, leading to 138,652 units of unsold inventory. Prices declined for the first time in a decade, down 5% YoY when factoring in discounts.
- In the office market, new completions increased 76% YoY to 10.4 million sqft adding pressure on vacancy and rentals. Vacancy rose to 22% in H1 2017 though BKC and Lower Parel remained under 10%. Transactions were up 6% YoY.
- For both markets, peripheral areas saw increased activity
Residential and office markets in Ahmedabad from July to December 2017:
1. Residential launches declined significantly to decade lows due to developers focusing on affordable housing and complying with RERA and GST regulations. Sales volumes increased slightly in H2 2017 but overall remain subdued.
2. The office market is growing, with yearly new completions and transactions more than doubling from 2015 to 2017. However, vacancy levels also increased due to a large supply of new space.
3. While other cities face price corrections, Ahmedabad saw a 2% year-over-year increase in residential prices in 2017. The office market is dominated by banking and financial services but IT/ITeS is
The document summarizes the Q4 2014 office market report for San Francisco. Key points include:
- The vacancy rate remained flat at 7.5% due to new construction, though it has decreased 51% since 2010.
- Leasing activity was strong with 1.5 million sq ft leased in Q4 and a total of 8.1 million sq ft for the year, exceeding the annual average.
- The market posted its 18th consecutive quarter of positive absorption, with over 257,000 sq ft absorbed in Q4 and a total of 2.8 million sq ft for the year.
- Average rents increased to $64.79 per sq ft, a 16.2% increase from
The document summarizes the Q4 2014 office market report for San Francisco. Key points include:
- The vacancy rate remained flat at 7.5% due to new construction, though it has decreased 51% since 2010.
- Leasing activity was strong with 1.5 million sq ft leased in Q4 and a total of 8.1 million sq ft for the year, exceeding the annual average.
- The market posted its 18th consecutive quarter of positive absorption, with over 257,000 sq ft absorbed in Q4 and over 2.8 million sq ft for the year.
- Average rents increased to $64.79 per sq ft, a 16.2% increase over the previous
While institutional investors have primarily invested in suburban office assets over the past six quarters, the downtown office market is expected to see a shift in this trend over the second half of 2016. Several large downtown assets are currently listed for sale, which could attract more institutional investment to the urban core. Large blocks of vacant office space have become available in the northern suburbs due to relocations, shifting leverage towards tenants looking in those areas. However, strong leasing activity is projected to continue filling the space. Speculative development projects are moving from build-to-suit to filling the suburban pipeline, reflecting increased tenant demand outside of the downtown area.
- Big-box demand continued in Houston with population-driven users like Costco and Ikea making long-term commitments through major land purchases and planned developments.
- While northern submarkets led leasing activity earlier in the year, the southeast submarket captured over 50% of deals in Q4 2018, including several large expansions by distribution companies.
- New industrial supply slightly outpaced demand in 2018, causing vacancy to rise slightly from 4.9% to 5.1%, but this small increase does not threaten Houston's landlord-favorable market conditions.
- Big-box demand continued in Houston in Q4 2018, with Costco purchasing 150 acres and Ikea acquiring 164 acres for large projects.
- The Southeast submarket captured over 50% of leasing activity in Q4, with several large expansions by distribution companies.
- While demand outpaced supply, new deliveries in 2018 finished ahead of net absorption, causing vacancy to rise slightly from 4.9% to 5.1%.
A look into the real estate figures of the residential markets across Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai, Ahmedabad, Kolkata and office markets across Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai for the period January – June 2017 (H1 2017).
The document provides an economic outlook and real estate market analysis from Lawrence Yun, Chief Economist at the National Association of REALTORS. It summarizes housing market trends showing increases in home sales, prices, and construction over the past two years in the US overall and specifically in St. Louis and St. Charles counties. It also discusses factors that could impact the housing recovery in 2014 such as rising mortgage rates, tight inventory, and policy changes.
The document provides an overview and analysis of the Q4 2017 industrial real estate market in Cincinnati. It finds that the market saw strong activity throughout 2017, with high leasing velocity and steady construction levels keeping vacancy rates at record lows despite new supply coming online. Several large leases of newly constructed buildings were signed in Q4. The outlook for 2018 remains positive, with numerous planned developments in the pipeline and low vacancy indicating continued landlord dominance and rising rental rates.
Dr. Lawrence Yun - Real Estate Outlook - Global 2018Paul Costello
The document summarizes the outlook for the US real estate market according to Lawrence Yun, Chief Economist at the National Association of REALTORS. It notes that while the domestic economy remains strong with job and wage growth, the housing market is slowing due to low inventory, weakening affordability, and diminished optimism among buyers and sellers. It also discusses trends in home prices, sales, construction, and mortgage rates, as well as the outlook for commercial real estate.
During ICCI's May Business Lunch, keynote speaker Antony Kelly shared with our business community key insights on end of the financial year main figures.
Residential building activity in South Africa remained subdued in late 2017, with the number of building plans approved and housing units completed both slightly down compared to the previous year. Building costs increased by an average of 9.5% year-over-year due to rising construction costs, though the increase was lower at 4% after adjusting for inflation. Levels of confidence in the building industry also remained downward, and overall residential building activity for 2017 is expected to show limited growth.
The document provides an overview of the Mumbai residential and office markets between July and December 2017. Some key points:
- Residential launches fell 36% YoY while sales dropped 8% YoY, leading to 138,652 units of unsold inventory. Prices declined for the first time in a decade, down 5% YoY when factoring in discounts.
- In the office market, new completions increased 76% YoY to 10.4 million sqft adding pressure on vacancy and rentals. Vacancy rose to 22% in H1 2017 though BKC and Lower Parel remained under 10%. Transactions were up 6% YoY.
- For both markets, peripheral areas saw increased activity
Residential and office markets in Ahmedabad from July to December 2017:
1. Residential launches declined significantly to decade lows due to developers focusing on affordable housing and complying with RERA and GST regulations. Sales volumes increased slightly in H2 2017 but overall remain subdued.
2. The office market is growing, with yearly new completions and transactions more than doubling from 2015 to 2017. However, vacancy levels also increased due to a large supply of new space.
3. While other cities face price corrections, Ahmedabad saw a 2% year-over-year increase in residential prices in 2017. The office market is dominated by banking and financial services but IT/ITeS is
The document summarizes the Q4 2014 office market report for San Francisco. Key points include:
- The vacancy rate remained flat at 7.5% due to new construction, though it has decreased 51% since 2010.
- Leasing activity was strong with 1.5 million sq ft leased in Q4 and a total of 8.1 million sq ft for the year, exceeding the annual average.
- The market posted its 18th consecutive quarter of positive absorption, with over 257,000 sq ft absorbed in Q4 and a total of 2.8 million sq ft for the year.
- Average rents increased to $64.79 per sq ft, a 16.2% increase from
The document summarizes the Q4 2014 office market report for San Francisco. Key points include:
- The vacancy rate remained flat at 7.5% due to new construction, though it has decreased 51% since 2010.
- Leasing activity was strong with 1.5 million sq ft leased in Q4 and a total of 8.1 million sq ft for the year, exceeding the annual average.
- The market posted its 18th consecutive quarter of positive absorption, with over 257,000 sq ft absorbed in Q4 and over 2.8 million sq ft for the year.
- Average rents increased to $64.79 per sq ft, a 16.2% increase over the previous
While institutional investors have primarily invested in suburban office assets over the past six quarters, the downtown office market is expected to see a shift in this trend over the second half of 2016. Several large downtown assets are currently listed for sale, which could attract more institutional investment to the urban core. Large blocks of vacant office space have become available in the northern suburbs due to relocations, shifting leverage towards tenants looking in those areas. However, strong leasing activity is projected to continue filling the space. Speculative development projects are moving from build-to-suit to filling the suburban pipeline, reflecting increased tenant demand outside of the downtown area.
Presentation to O'Connor and Associates Land Forecast 051414Scott Davis
The document summarizes land sales and market trends for the first quarter of 2014 in the Houston area real estate market. It finds that land sales doubled compared to the first quarter of the previous year, with over 94% of acreage sold outside the city's beltway. However, sales inside the loop remained strong. The median days on the market increased again this quarter. The report also discusses demographic trends in Houston and expectations for continued population and job growth. It notes Houston will become more diverse and many residents prefer urban and suburban living options over regulations.
In November 2020, home sales in the Greater Toronto Area increased 24.3% compared to November 2019. The average selling price rose 13.3% year-over-year to $955,615. Sales and prices increased strongly across single-family home segments, while condominium apartment sales saw more balanced conditions with some price declines compared to last year. Looking ahead, demand for condo apartments is expected to increase once population growth resumes following the COVID-19 pandemic.
This document provides data and statistics on the accommodation and food services industry in Saratoga County. Some key points:
- The accommodation and food services industry employed 9,992 people in Saratoga County in 2018, up 73% from 5,785 jobs in 2001.
- Tourism generated $68.7 million in state and local taxes for Saratoga County in 2018, a significant source of revenue.
- Saratoga Springs is a major tourism destination, with the City Center hosting over 174,000 guests in 2018 who contributed $34.3 million in economic impact.
- Saratoga Race Course is a large driver of tourism, with over 1 million attendees in 2019 generating $705
This presentation was given to the Orange County Sheriff's Office on December 8, 2016, in order to update their office on the latest development trends in Orange County.
Home sales in the Greater Toronto Area reached the second highest level for October, but new listings were down about a third from October 2020. Market conditions tightened across all major home types compared to last year, with the average price rising 19.3% to $1,155,345. Demand is not expected to decrease, so governments need to focus on increasing housing supply to address affordability issues.
- The median home sale price in the Richmond metropolitan area was $195,500 in September 2013, an increase of 9% from September 2012. Total home sales were up 13% from the previous September while active inventory decreased by 4%. The supply of homes available relative to demand was 6.3 months, down from 7.3 months the prior year.
The industrial property sector saw record growth in 2015, with $77 billion in sales volume, a 54% increase from the previous year. This was driven by a surge in portfolio and entity-level sales, as well as record foreign investment of $27.4 billion. Foreign investors were attracted to the stable yields in high-quality industrial properties, such as warehouses, compared to other commercial property types. Cap rates for warehouse properties compressed but began to stabilize, suggesting prices may be moderating after years of rapid growth.
Office transaction volume in 2015 was $146 billion, up 16% year-over-year. Mega-deals involving portfolio and entity-level sales drove much of the growth, increasing 36% and accounting for $40.6 billion in transactions. Foreign investment reached new highs and contributed to the rise in mega-deals. Commercial property prices increased 14% overall according to preliminary estimates, though price growth has begun to moderate as capitalization rates hit floors. Transaction volume grew faster for suburban assets, up 26% to $78.9 billion, while central business district asset sales rose only 6% to $66.9 billion.
TRADING WITH CANADA? What you need to know about the new USMCA Trade AgreementJenniferKelley47
A free and informative webinar to learn more about the new U.S.-Mexico-Canada Agreement (USMCA) trade agreement and how you can benefit from importing and exporting to Canada. The USMCA provides a strong incentive for businesses in our neighboring countries to find new customers across our borders through exports while supporting jobs here in the United States.
The document provides information on key aspects of the USMCA trade agreement between the US, Mexico, and Canada as it relates to commercial transport. It notes that USMCA aims to reset trade relations to a fair environment, integrate emerging technologies, and counter non-market practices. For commercial transport specifically, it is expected to lead to faster market access and entry, lower transaction costs, and continued investment in rail infrastructure across North America with a focus on improving border crossing facilities. The rules of origin and certification of origin process under USMCA are also summarized.
Saratoga County Agriculture and Business Economic Index 9.19.18JenniferKelley47
The document discusses agriculture and the dairy industry in Saratoga County and New York State. Some key points:
- Dairy is the top agricultural product in New York and Saratoga County, generating $2.5 billion annually statewide.
- Saratoga County has 583 farms on 78,849 acres, with dairy and horses being major commodities. Agriculture generates $125 million annually for the county.
- Surveys of county residents found over 70% have an optimistic outlook on local agriculture and support initiatives to promote and sustain it, such as farmland protection plans and new branding/marketing.
- Challenges for farmers include financial pressures and the need for technical assistance and
Saratoga County Warehouse + Logistics Economic Index 7.23.19JenniferKelley47
The document discusses trends in transportation, warehousing, and logistics in the Capital Region of New York, highlighting that it is an important and growing sector for the regional economy. It notes workforce challenges as a key issue facing companies in the industry. Survey results show most companies expect to expand operations through increased square footage, inventory, and employees in the next year, demonstrating continued growth in the sector.
2018 Saratoga County State of the Economy 3.29.18JenniferKelley47
This document provides an economic overview of Saratoga County, New York. Some key points:
- Saratoga County has experienced population growth of 4.5% since 2010, with growth in both international and domestic migration. It has one of the highest education rates in the state.
- The median household income in Saratoga County is $74,080, an increase of 14.5% since 2010. Housing permits and home values are also on the rise. The unemployment rate is currently 5%.
- Major industries include healthcare, education, retail, professional services, and manufacturing. Business owners surveyed reported stable or increasing sales, costs, and employment over the past month.
- The biggest
The document summarizes an economic development presentation for Saratoga County. It finds that Saratoga County benefits from major investment and a diverse economy in tourism, agriculture, and technology. However, recent successes have not been fully capitalized on. The mission of the Saratoga County Prosperity Partnership is to secure sustainable jobs and investment by attracting new businesses and helping existing businesses grow. Data presented shows Saratoga County has low unemployment, high incomes and labor participation compared to neighboring counties. Housing permits and values are also higher in Saratoga County. However, businesses report increasing sales but not adding many new employees. Attracting new talent is cited as a top concern.
Information about the 10th New York State Consolidated Funding Application round starting May 2020. The presentation was put on by Jim Thatcher from C.T. Male Associates located in Latham, NY.
04-18-20 - Managing Your Paycheck Protection Program LoanJenniferKelley47
If you have been approved for and/or received a loan under the paycheck protection program, you will need to make sure that you manage those funds correctly to qualify for forgiveness. This webinar will provide you with the following information:
Forgiveness Terms
Forgiveness Calculations
Forgiveness Documentation
Frequently Asked Questions
Saratoga County Manufacturing Economic Index 4.17.19JenniferKelley47
Takeaways from the Saratoga County Manufacturing Index include:
• Manufacturing is the fourth-largest private-sector employer in Saratoga County, representing 11 percent of total employment.
• The semiconductor industry (2,599 jobs) is the leading manufacturing employer, followed by chemicals (1,278), printing (890), paper (518) and fabricated metals (501)
• Nearly half of manufacturing jobs in Saratoga County – 3,678 – are directly supported by exports
• Statewide, the biggest exported NY products by percentage are miscellaneous manufactured commodities (39), followed by semiconductor (12), primary metals (9) and chemicals (9)
• Statewide, the leading foreign countries that receive exported NY products by percentage are Canada (14), Hong Kong (12), Israel (8), the United Kingdom (7) and Switzerland (7)
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
6. The mission of the Saratoga County
Prosperity Partnership shall be to
secure sustainable jobs and capital
investment by attracting new business
to the County and retaining existing
businesses by assisting them to grow.
Mission of the Saratoga Partnership
8. Source: Bureau of Economic Analysis - 2017
Real Estate + the U.S. Gross Domestic Product
How does real estate
affect our economy?
• $19.3 T - U.S. GDP
• $ 2.9 T - Housing
investment + housing
services
Residential Investment + Housing Services
15% U.S.
GDP • 3-5% GDP - Residential investment
• 12-13% GDP - Consumption spend
• Includes gross rent + utilities
9. Source: Bureau of Economic Analysis – 2017 & US Census Bureau 2018
• $19.3 T - U.S. GDP
• $1.34 T - New
Construction
New Construction of Real Estate
7% U.S.
GDP
New Construction - Impact on GDP
“New home construction activities directly
affect as many as 122 Industries”
–NuWire Investments
• $551 B – Residential
• $760 B – Non-Residential
• $73 B – Office
• $90 B – Commercial
• $66 B – Manufacturing
10. Migration to Albany, NY
Boston 17.8%
Washington, DC 8.8%
Bay Area 2.7%
Los Angeles 2.7%
Migration Patterns
SOURCE – Redfin.com
11. Migration from Albany
Boston 13.7%
Washington, DC 7.2%
Miami 5.6%
Seattle 4.4%
Los Angeles 2.8%
Philadelphia 2.8%
Portland 2.8%
Charlotte 2.5%
Migration Patterns
SOURCE – Redfin.com
12. Residential Real Estate
• Existing Home Sales
• New Housing Permits
• Housing Affordability
• Days on Market
• Housing Price
• Inventory
13. 41%
13%
21%
25%
SOURCE: National Association of Realtors (Oct. 18)
1.4% Oct. ‘18
After 6 straight months of decreases
“Additional inventory will help contain
rapid home price growth and open up
the market to prospective homebuyers
who are being priced out.”
National Association of Realtors
Chief Economist Lawrence Yun
Existing Home Sales – National – By Region
14. 249
296
147 158
37
239 248
152 150
29
ALBANY SARATOGA RENNSELAER SCHENECTADY WASHINGTON
Oct. '17 Oct. '18
-5.1%
Capital Region - Number of Single-Family Sales
-4% -16.2% 3.4% -21.6%
SOURCE – GCAR
248
15. 754
911
987
1035 1069
997
1070 1062
1188
1247
1198
1236
1333
1461
1613
1682
1378
980
576
441 447 419
519
621 640
696
751
820
740
1991 1992 1993 1994 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 UP
TO
OCT
2018
Number of Housing Units (in thousands)
National Number of Single-Family Housing Units Permitted
(in thousands)
SOURCE – Census.Gov
22. National Housing Trends
• Slow Growth in new housing stock – driving
home prices up quickly
• Reduction in incentives for homeownership
• Uncertainty of mortgage rates
• High home prices
• A dearth of inventory
• New tax law
• Millennials priced out of real estate market
due to high education debt
• The median housing price has risen at a faster
rate than wages
SOURCE – Wall Street Journal
24. National - Total value of Commercial Property Sold
Every sector experienced
an increase in value
• Apartments 11.6%
• Industrial 6.5%
• Suburban office
6.0%
Saw the largest bumps in
Q2 year over year,
with prices up
Apartments Industrial Suburban office
11.6%
6.5% 6%
Q2 ’18
SOURCE – Bisnow.com
25. Total amount of Industrial Space available
SOURCE – Q3 2018 Industrial Market Outlook Colliers International
30. U.S. Annualized Rent Growth
Annualized growth rate
6.2%
Warehouse + Logistics
Rents inched up
$5.68 psf
“As top logistics markets continue to
operate at a sub–3.0 percent vacancy
rate, we expect continued competition
for quality space to add pressure on
rents through 2018.” JLL Research
SOURCE
31. National Inventory - Rent per square foot
SOURCE – JLL
$5.66 $5.67
$6.82
WAREHOUSE & DISTRIBUTION MANUFACTURING SPECIAL PURPOSE
39. SUMMARY
RESIDENTIAL:
• Saratoga County
Residential real estate market has seen
some slowing in permits, inventory, sales,
and affordability, but ever so slightly.
• We are still the preferred place to live in the
Capital region.
COMMERCIAL/INDUSTRIAL:
• Inventory seems large, but it is dated.
• With more inventory comes more
opportunities.
43. 0% 7%
60%
27%
7%
VERY WEAK WEAK STABLE STRONG VERY STRONG
What is your current assessment of the residential real estate market?
94%
Stable or
Better
15 Responses
44. 0% 0%
60%
40%
0%
VERY UNFAVORABLE UNFAVORABLE STATIC PROMISING VERY PROMISING
Expectation of the residential real estate market 6 months from now?
60%
Static
15 Responses
45. 0% 0%
87%
13% 0%
VERY WEAK WEAK STABLE STRONG VERY STRONG
Assessment of financing market for residential real estate sales?
87%
Stable
13%
Strong
15 Responses
46. 0% 7%
73%
20%
0%
VERY UNFAVORABLE UNFAVORABLE STATIC PROMISING VERY PROMISING
15 Responses
Expectation of the financing market for residential real estate sales
6 months from now?
73%
Static
20%
Promising
47. 0% 7%
60%
27%
VERY WEAK WEAK STABLE STRONG
Assessment of the current residential rental market?
87%
Stable to
Strong
15 Responses
48. 0% 0%
60%
40%
0%
VERY UNFAVORABLE UNFAVORABLE STATIC PROMISING VERY PROMISING
Expectation of the residential real estate rental market
6 months from now?
60%
Static
40%
Promising
15 Responses
49. OPINION – What would impact future market
performance.
“There is a lot of talk from buyers
about the interest rate hikes and the
impact it will have on their ability to
purchase the home they want."
“Younger people are
hindered by student loan
debt.”
“We are pricing our young people out
of our market. They can't afford to live
here. Also people in retail and food
services can't afford to live here. We
need more affordable homes and
apartments.”
“New businesses have a huge positive
impact on our markets. They need help,
both from taxes and regulations and with
mentoring to remain viable and continue to
flourish while they gain a footing in the
community."
“I think the rising mortgage
rates are hurting the market.”
50. 0% 0%
22%
56%
22%
VERY WEAK WEAK STABLE STRONG VERY STRONG
Current assessment of the commercial real estate market?
78%
Strong to
Very Strong
22%
Stable
9 Reponses
52. 0% 0%
44%
56%
0%
VERY WEAK WEAK STABLE STRONG VERY STRONG
Assessment of the current financing market for commercial real estate?
56%
Strong
44%
Stable
9 Reponses
53. 0%
22%
33%
44%
0%
VERY FAVORABLE UNFAVORABLE STATIC PROMISING VERY PROMISING
Expectation of the financing market for commercial real estate
6 months from now?
44%
Promising
33%
Stable
22%
Unstable
9 Reponses
54. 0%
11%
44%
22% 22%
VERY WEAK WEAK STABLE STRONG VERY STRONG
Assessment of the current commercial real estate leasing market?
88%
Stable to Very
Strong
9 Reponses
55. 0% 0%
44%
33%
22%
VERY UNFAVORABLE UNFAVORABLE STATIC PROMISING VERY PROMISING
Expectation of the commercial real estate leasing market
6 months from now?
55%
Promising
44%
Static
9 Reponses
57. OPINION – What would impact future market
performance.
“Biggest issues I see is the
permitting process and the lengthy
delays to get things approved.
Construction costs are increasing
which is helping the sales on existing
structures.”
“I believe we will see rising interest
rates leading to a slow down in
development"
“Labor market concerns.
Government actions are also
a concern, including property
taxes.”“I think we've reached peak or
near peak with an overabundance
of properties available.”
To start our presentation today we will begin with a look at RESIDENTIAL REAL Estate.
The growth of the residential housing market has always been the part of our economy that drives us out of a recession.
We all know the growth of our economy was slow coming out of the financial meltdown of 2008-2009. Let’s see how we have fared Nationally and then here in Saratoga County.
Let’s look at residential real estate and it s role in the National economy:
In 2017 the US GDP was 19.3 trillion Dollars
15% of GDP was attributable to. Residential housing. And investment services this amounted to 2,895,000,000,000 (
Residential Fixed Investment + Housing Services)---Housing's Contribution to Gross Domestic Product (GDP)
Housing’s combined contribution to GDP generally averages 15-18%, and occurs in two basic ways:
Residential investment (averaging roughly 3-5% of GDP), which includes construction of new single-family and multifamily structures, residential remodeling, production of manufactured homes, and brokers’ fees.
Consumption spending on housing services (averaging roughly 12-13% of GDP), which includes gross rents and utilities paid by renters, as well as owners' imputed rents and utility payments.
SOURCE:
NAHB housing Contribution
https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=US
GDP Stats from the Bureau of Economic Analysis https://apps.bea.gov/iTable/iTable.cfm?reqid=19&step=2#reqid=19&step=2&isuri=1&1921=survey
IN DROPBOX SEE “Housing-Contribution-gdp” for numbers… Residential Fixed Investment + Housing Services
In 2017, real estate construction of every type contributed $1.34 trillion to the nation's economic output.
That's 7 percent of U.S. gross domestic product.
And It's more than the 2006 peak of $1.19 trillion.
However at that time, real estate construction was 8.9 percent component of GDP.”
“New Home Construction activities directly affect as many as 122 Industries”
These include concrete, lumber, steel, plumbing and all the other components related to construction
SOURCE:
The Balance ( a .dash company)
James Schlett - CEG
Who is buying? We have all heard how millennials are not part of the consumer class
With housing prices high, why are people still buying homes?
TOP THREE REASONS
3 LOWEST REASONs
SOURCE: REALTOR.COM
Where are they coming from?
People are leaving from Silicon Valley to come to this area because of our Chip manufacturing and other technology jobs
Where are people going?
People are leaving from Silicon Valley to come to this area because of our Chip manufacturing and other technology jobs
Vice Versa…people are going to dc for government, snow birds are moving to Florida, people are moving Oregon to Intel
What are some impediments to people purchasing homes?
TOP THREE REASONS
3 LOWEST REASONs
SOURCE REALTOR.COM
There are many indicators that help paint a picture of the health of the housing market.
NATIONAL--- “Low inventory and high prices have slowed down the entire housing market, which is mostly made up of previously owned homes.”
Existing-home sales increased in October by 1.4% after six straight months of decreases, according to the National Association of Realtors”-
According to National Association of Realtors Chief Economist Lawrence Yun, “Additional inventory will help contain rapid home price growth and open up the market to prospective homebuyers who are consequently — and increasingly — being priced out,".
That creates a drag on the job market as well, since it makes it more difficult to pick up and move to a new city for better employment opportunities. Americans are already relocating far less than they used to.”
SOURCE: CNN Business: https://money.cnn.com/2018/08/28/news/economy/housing-market/index.html
https://www.nar.realtor/research-and-statistics/housing-statistics/existing-home-sales
Let’s look at the Capital region and see how we fared.
The number of home sales decreased in all counties except Rensselaer. Saratoga County saw a -16.2% decrease in closed sales year over year as of October 2018
Across the entire Capital region this represents a 7.7% decrease. However the year is not over yet!
The decrease in home sales shows a slow-down in the housing market.
Source for Counties: GCAR
Nattionally The number of housing permits is decreasing from its peak in 2005, right before the meltdown.
With less houses being built, the inventory is decreasing. This keeps the price of homes high, but people can not afford those prices, so they are staying in the rental market.
This is due to tariffs on lumber and steel and immigration laws cause the price of construction to be higher.
Stocks of Construction companies are down. Lowes is not doing well, but Home Depot is. More people are choosing to renovate their houses than sell them, due to high mortgage rates and high home prices….people are staying put in their homes.
Source: https://www.census.gov/construction/bps/uspermits.html
The good news is that the number of single family construction permits since the financial crises has remained higher in Saratoga County than the rest of the Capital region and by substantial margins
Source: United States Census Bureau
Now let’s take a peek. At the issue of affordability:
The Housing Affordability Index measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional levels based on the most recent price and income data.
The typical family is defined as one earning the median family income as reported by the U.S. Bureau of the Census.
To interpret the indices, a value of 100 means that a family with the median income has exactly enough income to qualify for a mortgage on a median-priced home. An index above 100 signifies that family earning the median income has more than enough income to qualify for a mortgage loan on a median-priced home, assuming a 20 percent down payment.
For example, a composite HAI of 141 means a family earning the median family income has 141% of the income necessary to qualify for a conventional loan covering 80 percent of a median-priced existing single-family home. An increase in the HAI, then, shows that this family is more able to afford the median priced home.
Source: National Association of Realtors
The Capital Region Affordability Index (167) is better than the National (141). The lower the number, the lower the affordability.
The ability for people in the Capital Region to afford a home is decreasing.
The increased price of homes is outpacing the increase in wages and income
Flat incomes, higher prices, higher mortgage rates.
Source: GCAR
Days on market dropped everywhere except Albany and Washington County.
Saratoga is lower than National average
SOURCE:
National - Realtor.com for October 2018 and October 2017
Regional and Saratoga come from GCAR – October 2018 reporthttps://gcar.com/wp-content/uploads/2018/10/GCAR_NY_HSO_2018-Q3.pdf
National median house price has decreased
It has increased in Saratoga, Rensselaer. And Schenectady county
Source- National Numbers: US Census.govhttps://www.census.gov/construction/nrs/pdf/uspricemon.pdf
Source- County: GCAR
In 2018, total inventory rose monthly from January until it peaked in July but has declined each month from August through October.
The number of homes for sale is still near historically low levels and is down, year-over-year, compared to 2017. down in year-over-year comparisons.
The 70,704 homes for sale in October 2018 represent a decrease of 1.3 percent from October of 2017.
Rising interest rates are affecting affordability for some potential buyers. Helping mitigate the impact of higher interest rates is the strength of the overall economy including the national unemployment rate which continues to sit below 4.0 percent.
Source for Counties: GCAR
Source- NEW YORK STATE INFO: From https://www.nysar.com/industry-resources/market-data
The slow growth of new housing stock has driven up home prices quickly, especially in hot markets like San Francisco and Miami. (Other markets, like Detroit, still haven't regained the value lost during the Great Recession, according to data collected by the Federal Housing Finance Agency.)
Although the closely-watched Case-Shiller Index showed on Tuesday that home price growth slowed slightly in June, the 20-city composite measure topped its pre-recession high at the beginning of 2018
Millennials are especially priced out due to their enormous debt
What's eating the housing market, in the midst of what otherwise looks like upbeat growth? In part, it's a victim of the economy's success:
The Federal Reserve is seeking to keep inflation in check by raising interest rates, making mortgages more expensive.
The median housing price has risen at a faster rate than wages. People are being priced out of the market. ”fewer people are attending open houses. This shows that demand could be faltering and some potential buyers might be giving up, for now.”- Housing market is faltering and strong economy offers no cure”
“Though every sector experienced an increase in value, apartments, industrial and suburban office assets saw the largest bumps in Q2 year over year, with prices up 11.6%, 6.5% and 6%, respectively”
Source: https://www.bisnow.com/national/news/capital-markets/were-close-to-the-top-of-the-market-6-commercial-real-estate-capital-flows-trends-to-watch-for-93832
National
“The U.S. industrial market remains on a roll with robust activity, record development, and all-time high occupancy and rental rates. Industrial real estate demand continues to be driven by a strong domestic economy and the need to modernize and expand supply chains to keep up with growing e-commerce retail sales. Occupiers are leasing both regional big-box facilities as well as last mile distribution centers in core and emerging markets throughout the country.”-
“Robust demand dropped the overall vacancy rate to 4.9%, the first time the U.S. industrial market has posted a vacancy rate under 5%. Low vacancies are driving up asking rents which finished the third quarter at an all-time record $5.91 per square feet per year for warehouse/distribution space.”
SOURCE
Q3 2018 Industrial Market Outlook Colliers International
https://www2.colliers.com/en/Research/2018-Q3-US-Industrial-Market-Outlook-Report
https://www.nreionline.com/industrial/industrial-absorption-creeps
^^to learn about “absorption”
Vacancy rates are up with hotels leading the way.
Office and retail are also in double digits when it comes to vacancy nationally
But tis is after vacancy rates have been trending down since 2010
WHY IS IT STAGNANT?
Albany Inventory has remained the same, but vacancy space is declining
Saratoga and Schenectady County have about the same amount (s.f) of industrial inventory
Source: CBRE & James Schlett
The amount of vacant industrial space in Albany county has decreased significantly, while all the other counties have maintained the same amount of vacant space.
Why has Saratoga County seen an uptick in Vacancy Rate in Saratoga County?? >> Ask Sleasman
Source: CBRE & James Schlett
As noted previously, the vacancy rates heave been trending down over the past several years, with a slight uptake more recently. Nationally, with the increase in ologistics needs, increased construction of W/D product has let to slightly higher vacancy rate in this area, however absorption of this product is fast-paced as well.
“However an increase in overall vacancy rates, and rising construction coasts point to new construction continuing to be limited moving forward” CBRE H1 2018
SOURCE:CBRE
Nationally U.S. annualized Rent growth continues to trend upward
Rents continue to extend the upward trend.
Spurred by an increase in absorption of warehouse space, rents inched up further reaching $5.68 per square foot, with an annualized growth rate of 6.2 percent.
As top logistics markets continue to operate at a sub–3.0 percent vacancy rate, we expect continued competition for quality space to add pressure on rents through 2018.
SOURCE:
(https://www.us.jll.com/content/dam/jll-com/documents/pdf/research/americas/us/US-Industrial-Outlook-Q2-2018-JLL.PDF)
Th
Triple net – other costs above that, generally taxes, insurance and common area maintenance...
Saratoga County and Rensselaer County rental rates are the highest and essentially equal.
They are also in line with the national figures we saw on the previous slide
Overall rental rates have not increased by large percentage
Source: CBRE & James Schlett
SOURCE:CBRE James Schlett
SOURCE:CBRE
SOURCE:CBRE
“However an increase in overall vacancy rates, and rising construction costs point to new construction continuing to be limited moving forward” CBRE H1 2018
SOURCE:CBRE
SOURCE:CBRE
SOURCE:CBRE
That’s what we think, what does the industry think?
26 Responses
13 Commercial