Nestled in 2,500 secluded, tropical acres on the northernmost tip of Key Largo in the Florida Keys, Ocean Reef Club is considered one of the country’s most comprehensive private club communities. Offering 1,700 waterfront estates, private homes, condominiums and boat slips, Ocean Reef Club also features an oceanfront Inn, 36-holes of golf, 175-slip marina, full-service spa and salon, tennis and lawn sports, PreK3-8 grade Academy, Medical Center, veterinarian, a cultural center and an array of dining and shopping options. These wide-ranging options are some catalysts for overwhelming buyer interest. A recent Counselors of Real Estate® report provides additional insight into other factors that may be impacting the record-breaking sales pace.
The impact of retiring Baby Boomers and the rise of the Millennial generation will likely have the most significant impact on real estate near- and long-term, according to The Counselors of Real Estate®. Demographic shifts such as these rose to the top of this year’s list because of the sheer numbers of people and transactions involved in the evolving needs of both groups in coming years, and the far-reaching effect these will have on real estate.
“Anticipation of rising interest rates, continued currency devaluation, and excess capital flowing into the United States are all on the minds of our membership,” says Noah D. Shlaes, CRE, 2015 chair of The Counselors of Real Estate Combine this with a growing wage gap and major changes in demographics, and we’ve got a lot to think about this year.”
Four Remaining Factors Include:
1. Excess Capital Supply: Funds continue to flow from outside the U.S. to purchase U.S. real estate. The investment rate is approaching record highs, presenting the potential for pressure on investments in the future. Multifamily continues to be very attractive, but investment is not limited to commercial property — residential investment is on the rise, as another form of the secure, transparent asset class that makes U prendre du viagra sans ordonnance.S. real estate particularly attractive to investors across the globe.
2. Rising Interest Rates: Interest rates have been at near-historic lows – and the general view is that they will stay that way, for a while longer. But savvy investors and homebuyers alike are preparing for rising rates.
3. Global Instability and Currency Devaluation: The U.S. dollar remains strong – but the global economy is being affected by currency devaluation in many other countries. Investment from non-U.S. sources helps fuel the U.S. real estate market.
4. Urbanization: Urban population growth is a global phenomenon. An increasing desire to reside in “live-work-play” and “walkable” communities is not limited to young professionals; older generations are also drawn to such locations, which affects housing choice for all age groups.
About the CRE
The list was developed by The Counselors of Real Estate’s External Affairs Committee, considering independent research, qualitative interactive feedback from members via polling at the association’s spring conference and a member wide email survey conducted in spring, 2015. David J. Lynn, Ph.D., CRE, CEO and co-founder, Everest High Income Property, leads The Counselors’ External Affairs initiative. VIEW SOURCE