Southeast Dominates ULI, PwC’s Markets to Watch in 2019
BOSTON — In their annual Emerging Trends in Real Estate report, Urban Land Institute (ULI) and Pricewaterhouse Coopers (PwC) have emphasized their bullishness on the Southeast. Following the top two metros in the report’s “Markets to Watch in 2019″ list (Dallas-Fort Worth and Brooklyn) are three Southeastern markets: Raleigh-Durham, Orlando and Nashville, none of which qualify as traditional gateway cities.
“Survey respondents favored markets with potential for more growth over the traditional gateway markets,” cites the report. “With the search for qualified labor intensifying, markets that can attract new residents have a definite advantage.”
ULI and PwC rank Raleigh-Durham 14th in terms of investor demand, seventh in development/redevelopment opportunities, sixth in availability of debt and equity capital and fourth in its overall local economy. Survey respondents are attracted to the strong urban revitalization movement in both downtown Raleigh and Durham, as well as the market’s population growth, diversified economy and three top-tier research universities: Duke University, University of North Carolina at Chapel Hill and North Carolina State University.
Orlando, the No. 4 overall market, provides value compared to other markets, strong population and job growth and a lucrative tourism base with Walt Disney World, Universal Studios and Sea World, among other attractions and events. Florida alone has three metros in the top 12 of the annual report: Orlando, Tampa-St. Petersburg (No. 10) and Miami (No. 12).
“Demographic growth, a friendly business climate and an attractive cost structure are factors contributing to the positive outlook for Florida,” cites the report.
Rounding out the top five is Nashville, a market that has 70 to 80 people move in on a daily basis and also retains 60 percent of its graduates from Middle Tennessee universities. The Emerging Trends report cites the market’s 2.5 percent unemployment rate, burgeoning tech sector, youthful energy and development-friendly atmosphere as reasons for its top five ranking.
To read the full report, click here.