Happy new year everyone! A new year signals changes and emerging trends. Commercial real estate is an evolving industry, so what are the trends that we should look out for in 2018?
Work spaces are always changing, so what is in store for next year? More service-oriented amenities, along with flexible work options! Lately many have been loving the open-floor plan, but some would rather work in a private space or from home. Modifying the design to accommodate employees who want private office space within an open-floor plan has emerged and will continue in 2018.
After disasters Harvey, Irma, and Maria destroyed many homes and buildings, designers must keep resilient design in mind. Developers must be prepared for hazard since poor weather events are unpredictable. Developers and investors also need to mitigate financial risks as much as they can. Sustainability and resilience are key to making through a disaster.
As discussed previously, micro homes could be a temporary solution in certain areas to the country’s housing crisis. They are cheaper to build, and demand for micro units is rising. We’re also seeing that more people are opting for minimalist living and downsizing due to lower costs.
So about this tax bill… it’s possible to see a decline in home sales next year, especially in California due to the tax reform. But the bill also would make home prices decrease, so this might be good news for prospective home buyers. However, for homeowners, the value of your home might decrease, which means you would have to pay a higher tax.
Crowdfunding has been quite popular this year, so analysts predict that other sources of funding will become more prevalent next year. People are starting to shift from sole ownership to fractional ownership, so it is likely that fractional investing will emerge soon.