This week at the Urban Land Institute’s fall conference in Denver, the annual Emerging Trends in Real Estate report was released for 2013. Quoting the highlights from the report “Salt Lake City is tertiary by size, but the recovery is far along and impressive.’ A large gainer for investment prospects, Salt Lake moved from 30th to 19th. “Lots of high-tech companies are looking at SLC.”
With an unemployment rate of 5.1%, a population growth expected of 1.5%, and perhaps most telling the highest percentage of employment involved in construction at 6.1%, Salt Lake is doing very well in comparison to its peers. These drivers will continue to benefit owners and developers of Commercial Real Estate in Utah. With pricing rising at a fast pace in some of the top U.S. cities, secondary markets like Salt Lake may see more of a boost as investors seek better values.