Low interest rates, urbanisation, falling unemployment and shifting retail patterns continue to impact the North American real estate market. The aging population is driving demand for care-friendly homes while the rise in single and two-person households is shifting the focus in residential toward more specialised accommodation. In particular, student housing and affordable housing provide good opportunities for growth.
Flexible office space is still small as a percentage of total stock but has been the largest absorber of office space in recent years. In retail, online shopping continues to have an impact, resulting in further bankruptcies. However neighbourhood food and retail-anchored developments, and specific retail concepts still offer potential. The growth in consumer spending is ramping up demand for both bulk space and fast delivery logistics developments.