The real estate industry is constantly evolving. Paradigm Properties has its eyes and ears on the latest trends and news to remain at the forefront of the industry. Here are some of the stories that caught our eye. What do you think about these trends?
Cracking down on Airbnb: Crain’s New York reports that Related Companies has asked its New York City property managers to keep an eye out for tenants using Airbnb, an online room-sharing service. Related has gone so far as to offer a $500 bounty to those who turn in scofflaws. Airbnb has seen massive growth, but state and city regulators are still figuring out how to regulate the service. Officials in Boston say they don’t have the authority to regulate the service yet, but they’re looking into ways to ensure tenant and Airbnb guest safety.
Transportation is driving the CRE train: A new report by Cushman & Wakefield confirms what we’ve been seeing for years: Urban growth is booming, and tenants in both residential and office space want to be close to public transportation options. The majority of new development in metro areas is close to transportation, but aging or insufficient infrastructure and the inability for public and private sectors to compromise may mean cities aren’t growing fast enough.
China comes to Boston: Driven by economic and political security, as well as Boston’s international reputation as a city for learning, Chinese nationals are increasingly investing in the Hub’s real estate market. Boston magazine takes a look at the industry around Chinese real estate investment in its October issue.