In 2012, U.S. commercial real estate must resign itself to a slow, grind-it-out recovery. It will follow a period of mostly sporadic growth in a few real estate markets that offer 24-hour transportation hubs with global access, according to the Emerging Trends in Real Estate 2012 report released by PwC US and the Urban Land Institute (ULI).
According to the survey, economic doldrums and a lack of dynamic job generators are weighing down real estate markets. Businesses have learned that they can increase profits with less space, and a drag in consumer spending compromises growth in retail and industrial occupancies and rents.
Survey participants predict that 2012 will see an increased supply of properties for sale; however, due to economic uncertainty, interest among buyers may diminish.