Along with the gradual recovery of the office, industrial and retail sectors of the commercial real estate market in Boston’s Metro area, demand in the multifamily sector is also on the rise. According to a recent article in The Investor, the Boston Metro area is seen as an extremely desirable market for investors as well.
With a large amount of jobs in the health care, technology and life sciences industries, it’s no surprise that Boston’s Metro area is a hot market for multifamily structures. According to The Investor, over 4,000 multifamily units are scheduled for construction through 2015, and more than 7,000 renter households will be created during that same period. This setup is proving to be enticing for investors, as it shows that demand for multifamily housing should continue to rise over the coming years.
These statistics should prove favorable for other sectors of the commercial real estate market as well. With a strong recovery of jobs lost during the recession and predicted job growth on the horizon, demand for retail, office and industrial space will likely increase in the coming years as well.
It’s a great time to invest in commercial space in the Boston Metro area. If you or someone you know are looking for office, retail or industrial space, please contact us! Our team, equipped with years of experience in the area, is ready to help you find your ideal space.