There is no question that 2021 will continue to develop into an interesting year for the real estate market. Everyone wants to know where the next great opportunities will come from, and we have some of those answers. This is based on trends in real estate that are happening around the country, but not every trend will apply to every geographic area.
Struggling Malls/Industrial Parks
Malls and industrial parks are not exactly a thing of the past just yet, but many of them are struggling and fading away. As the malls and other industries begin to abandon these areas, some savvy investors are swooping in to take advantage and purchase the land for themselves.
They do this because they know that there is real value in it in the long run. Other companies such as tech companies and even other standard office parks are more than happy to purchase these buildings after some time. Thus, commercial real estate sales are booming right now.
Hotels got knocked back a peg by the COVID-19 pandemic, and this means that many are struggling or outright abandoned. Thus, they are an inexpensive way to get in on real estate and make a significant profit going forward. They will surely be in more demand again at some point in the future, and that is why now is probably the time to buy these properties.