The Urban Land Institute in conjunction with Pricewaterhouse Coopers has just published its 2006 Emerging Trends in Real Estate for the U.S. market. This annual publication is the gold standard in real estate predictions. It is written primarily for bankers, investors and financiers as well as developers and builders. Three of the seven key trends for the next four years are:
Focus on Infill: sprawl and traffic reach a crisis stage; places without mass transit struggle; transit-oriented development gains momentum to expand light rail and reduce car dependence; boomers and echo boomers will continue to dictate trends toward more infill.
More Suburban Mixed Use: urban town centres will be the rage; big-lot housing becomes a thing of the past; people want to live in places where they can shop, work and play.
Greater Energy Efficiency: an extended period of sticker shock at the pump and jaw-dropping utility bills would change behaviours and demand for both home and commercial owners, reinforcing move-back-in and town centre trends; developers will need to stress more "green" development and rehab as tenants resist higher electricity and heating tabs.
These items are all new to the top seven list.
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