Dallas area top target for commercial real estate investment
Commercial real estate investors ranked Dallas-Fort Worth No. 1 for 2023 investments, according to a CBRE survey.
Why it matters: The region is expected to outperform in a year when most investors are looking to buy and sell less due to fears of an economic downturn.
Details: Dallas and Austin were ranked the top two markets in the country for potential investment this year, according to CBRE's Investor Intentions Survey.
- CBRE predicts 2023 commercial real estate investments nationwide will be down 15% compared with last year.
What they're saying: "In prior down cycles, DFW has proven to be more resilient than the U.S. as a whole," CBRE vice chair Danny Baker said of the survey results.
Of note: The survey found investors expressed the most interest in funding multifamily apartment complexes.
Yes, but: Fears of a recession may be overblown, and earnings reports show revenues were up for many corporations in the fourth quarter.
The bottom line: Texas is predicted to avoid a downturn even if the rest of the country enters a mild recession, and investor sentiments show that the region remains a top market for growth.
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