Real Estate Investment to Soften
Although real estate investment opportunities are expected to decline in 2002, the best picks are New York, Washington D.C., Boston, Southern California, Chicago and San Francisco, according to a recent report released by PricewaterhouseCoopers, New York, and Lend Lease Real Estate Investments, New York.
Despite the World Trade Center attack, New York is expected replace San Francisco as the strongest investment market this year due to supply restraints. Ranked number one in last year’s Emerging Trends in Real Estate report, San Francisco is now ranked sixth as a result of the dot.com crash.
On the lower end of the list, Seattle, Miami, Denver, Philadelphia and Minneapolis are predicted to be weaker markets in 2002.
For more information, visit Lend Lease’s web site at www.lendleaserei.com .