Residential real estate has improved in both sales activity and price across all islands including most of the neighborhoods on Oahu. Residential prices on Oahu have reached a new high. The low inventory of homes and low interest rates continue to be the reason behind the higher prices.
Here is our opinion with regard to residential housing in 2015:
- Buyers- “Buy for the immediate-short or long term. Rising prices for 2 years.”
- Sellers- “Congratulations, you’re now setting a new high in prices.”
- Builders- “Manage your costs and build now.”
- Investors- “Persevere to find the good deals. Lock into low rates now.”
We have seen improvement in all sectors of commercial real estate. The industrial sector is expected to perform well with an increase in base rent, lower vacancies, and higher resale prices. The retail market continues to improve with notable activity in Ala Moana and Waikiki. The office market rents have seen slight improvements in rents in some areas and an even level of vacancy. Office users are trending toward space efficiency. Multi-family apartments are still very popular amongst investors looking for cash flow and a place to park their money.
Here are our thoughts on commercial real estate in 2015:
- Landlords- “Improve your buildings to retain good tenants.”
- Tenants- “Lock in a good lease before rates go up.”
- Investors- “Grab the good deals if you can find ‘em.”
To find out what’s happening in your neighborhood please contact us and we can help you make the best real estate choice.