25 Sep Boston area real estate market continues to flourish
The New England real estate market has continued to perform well over the last decade. CBRE, a commercial real estate service and investment firm, predicts positive results for the New England real estate market through 2019. New England continues to attract new residents who come to work at some of the innovative companies who are starting up in the area. This is, in part, thanks to its status as a talent hub, particularly the Boston area.
The Urban Land Institute named Boston as #7 out of 10 top cities to watch in its Emerging Trends in Real Estate report. One reason Boston is such a sought-after city to live is its wealth of colleges and universities. Some of the top talent in the country can be found in Boston. It is home to 35 secondary education establishments.
A recent report from the New England Real Estate Journal notes office rental rates in Boston are trending up at an all-time high with commercial real estate investments in the area outperforming traditional REITS and stocks. The Boston market consistently outperforms its neighbors in the suburbs. Tenant demand is also high in the suburbs, which provide access to the best in shopping, public transportation and schools.
Boston is home to almost 700,000 people, with the Boston area containing a large percentage of the total residents in Massachusetts. Boston remains an attractive area for real estate investors, outperforming other metropolitan areas around the nation. The cost of living is high in Boston, but it’s still more reasonable than some other major cities, including nearby New York City.
New England and Boston are highly sought-after markets in real estate. If you are closing on a home or business in the New England area, Barsh and Cohen can handle your real estate closing affordably and efficiently. Contact us to schedule a consultation.