Cushman & Wakefield’s Sam Tenenbaum delves into the trends for demand of living in a central business district (CBD) since the COVID-19 pandemic, which was a challenging period for these denser areas.
While a rush to the suburbs created a housing boom fueled by low interest rates, home prices soared. Eventually, apartment rents also increased and vacancy rates dropped.
Now, Tenenbaum notes, “In recent quarters, CBDs have shown some encouraging signs of rebound, which sets these districts up for better performance in the years ahead, especially as the majority of investors chase product and development sites in suburban areas.”
In the analysis, Cushman & Wakefield dives into several of the myths associated with CBDs using data sets across 15 gateway and secondary cities, including whether population has declined, whether renters are preferring CBDs over the suburbs, and whether CBDs are too expensive.
Read Cushman & Wakefield’s CBD insights here.
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