Greater Boston’s real estate market has been on a bender – record-shattering sales, huge demand for office space in key submarkets such as Kendall Square and the Seaport and massive amounts of new luxury residential filling up in record time. But will these trends continue?
Solomon McCown and NAIOP Massachusetts teamed up on our first Real Estate Confidence Index to check the pulse of the industry and see if this run will continue – or are we “in the seventh inning?”
From a pool of more than 200 real estate industry respondents, 63 percent feel the Boston market is still rising (either quickly or slowly) and only ONE percent thinks we are already on the decline. Just about a third of respondents (31 percent) say we’ve plateaued. A whopping 76 percent have a positive outlook for our city just one year from now, with almost 56 percent continuing to be confident for the next three years.
See below to dig in on the confidence factors for the submarkets, new vs. existing construction and specific sectors. How confident are you? Let us know on Twitter at @SMCRealEstatePR.