No Sign of a Downturn in Top US Real Estate Markets

BOSTON-The top real estate markets across the country show no signs of slowing down, despite talks of a recession looming on the horizon. According to locally based Colliers International’s year-end survey, this area has some of the highest average rents and the lowest vacancy rates in the country, making it seemingly immune to the gathering economic forces.

“What’s unique about Boston is that it is exceptionally strong in both its Downtown and suburb markets,” Ross Moore, vice president and national director of research for Colliers International, tells GlobeSt.com. “No other city can make that statement.”

Average rents for the city, at $70 per sf,, are only behind San Francisco. The suburb’s average rent of $40 per sf is also the country’s second highest. The city’s growth rate was 4.5% while growth rate in the suburbs was a remarkable 7.3%. “Anything over 3% to 4% is a good growth rate,” Moore points out.