In the News
January 06, 2017
What to expect in Portland real estate in 2017
Portland Business Journal
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Last year around this time, the Business Journal tapped into some local players in the real estate market to see how they thought the year ahead would unfold.
There were predictions for more foreign and domestic investors to snatch up assets here. That happened. The delivery of some new and much-needed office square feet was expected to help meet some of the demand, but not all of it. That happened, too. And the idea that interest rates would finally rise and maybe motivate some buyers and sellers to dive into the residential market materialized as expected.
So what will 2017 bring from Portland's real estate market? Even more new apartments, fewer homes on the market, higher prices and office space that's even harder to come by? Click here to see what some local pros have swirling around their crystal balls for 2017.
"This year will be another very strong year for the industrial market in Portland. The struggle will be delivering enough supply to keep up with demand. There is a shortage of readily developable land sites, which is leading to a shortage in new industrial deliveries. This will drive up rents in existing properties and drive up values for well-located and readily developable land parcels. We expect rents to increase another 5 percent to 10 percent in 2017 as the supply continues to dwindle."
Peter Stalick, senior vice president and partner with Kidder Mathews
For the full story, go to Portland Business Journal.
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