The prices of the apartments
Values in the center of some US cities, euro/m2, October 2004
City Price
Min Max
Chicago 4,100 5,200
Los Angeles 4,200 5,150
Miami 2,050 2,800
New York 5,500 8,100
Source: Scenari Immobiliari The US residential market also recorded a good performance during 2004, supported by the granting of a very high number of mortgages. The percentage of first home owners has risen from 54 percent at the beginning of the 1990s to the current 68 percent, also because the low interest rates charged by US banks have made housing costs competitive with rents. And the prospects for 2005 are of further improvement, in line with Bush's slogan on .
In recent months the office market has stabilized, although it is premature to talk about a recovery. Despite declining demand over the past three years, developers continue to bring new offices to the market. As a result, prices are expected to reach high levels in the short term. Although the economic recovery is expected to strengthen in the next 18 months, national values are destined to remain significantly below the peaks reached at the end of the 1990s.
Despite the relatively modest impact that the national economic recovery has had on job growth and income levels, consumption continues to increase. Demand for commercial real estate remained positive across the country in 2004 and construction activity slightly exceeded absorption resulting in only a slight increase in . Demand is expected to remain strong in 2005 and values are expected to grow almost everywhere.
The industrial real estate market in the United States continues to be in crisis. The national rate, whose increase is attributable to the lack of balance between supply and demand for industrial spaces, is currently equal to 11.6 percent, which has led to pressure on values. 2005, in the presence of a strong economic recovery, should be characterized by an increase in demand for industrial spaces, a slowdown in construction activity and, consequently, a decline in .
source: Real estate observatory
Grimaldi Padua
Padua - 35137 - Via G. Matteotti, 27
e-mail: padovacentro@grimaldifranchising.it
Tel. +39 49 663 033 - VAT number 05301660287
Grimaldi Cadoneghe
Cadoneghe (PD) - 35010 - Via G. Franco, 2/A
e-mail: cadoneghe@grimaldifranchising.it
tel. +39 049 88 736 56 - VAT number 05322440289