Articles

As we make our way into the New Year, we also head into many new upcoming changes in real estate.  New business startups and an aging Millennial and Gen Z population means real estate agents can look forward to an increased industrialized market and amenity driven locations.

Reasons for these trends include the increase in the online presence of businesses and markets and the fact that most businesses are moving to include ecommerce in their scope of operations. However, this means that the demand for distribution centers and storage operations will be high. Also, taxes for some city limits and real estate have changed due to the Tax Cuts and Jobs Act of 2017. It includes a clause about Opportunity Zones. Buyers who purchase property in these zones will get capital gains tax incentives. Lastly, Millennials and Gen Z’ers are predicted to continue changing the real estate market by their progressive working habits. These groups have shown to work from remote locations and have a more diverse working environment than previous generations.  They are prepared to work anywhere with the help of newer mobile technology. Businesses keeping their brick and mortar locations will be looking for spaces that include more amenities so their employees have a larger sense of balance in order to increase productivity. These amenities will most likely be able to accommodate a mixed use work environment and are projected to increase the profitability and value of the business.