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Most Property Sectors Hold Up Despite Recession.(Brief Article)(Statistical Data Included)
Looking at the commercial real estate market and investors' projections for 2002, it's a mixed bag of news.
There has been a drop in the overall value of commercial real estate since the Sept. 11 attacks, but only a "miniscule" 0.5%, according to a survey of 141 domestic commercial real estate investors.
The survey - conducted 90 days after the attacks by Integra Realty Resources Inc., a national real estate appraisal firm - also showed that there is concern for the hospitality sector, with investors saying they expect to "see a 5% drop in the values as a result of the recession and the terrorist attacks."
Forecasting further bad news, the survey also said that investors expect to see property casualty insurance rates climb 138% in 2002. In addition, 49% of those surveyed also felt security costs will "increase substantially in 2002."
On a more positive note though, a substantial percentage of those surveyed intend to increase their real estate ...
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Source: HighBeam Research, Most Property Sectors Hold Up Despite Recession.(Brief...