Search
 

No Sign of a Downturn in Top US Real Estate Markets

BOSTON-A recent survey indicates that the top real estate markets in the US are not affected by the recent slowdown in the economy. This area, with some of the lowest vacancy rates and highest average rents in the country, is well positioned to withstand any economic downturn.

By Naomi Grossman | Updated on January 18, 2001

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.