Demographic Shifts Affecting Real Estate

A major factor that is affecting the real estate market are the demographic shifts that are expected.  Arizona is expected to see continued growth and development in the next several years. Listed below are some demographic trends that are expected to affect the commercial real estate market in Scottsdale: 

• Mixed-use Properties

Mixed Use properties are gaining popularity combining residential, office, and retail spaces. 

• Healthcare Facilities

There is a larger need for healthcare, counseling and assisted living facilities due to the  population increase in Arizona

• Co-Working Spaces

There is a need for spaces that offer flexibility such as co-working spaces that include shared amenities like internet access, break rooms, lounge areas and even gyms.

• Sustainable Green Properties

Properties that demonstrate a commitment to sustainability, such as green certifications, energy-efficient designs, and renewable energy are of great interest to investors and tenants.

• Out-of-state buyers

Scottsdale’s climate, employment growth, and growing talent pool is a positive draw for out-of-state companies.

• Remote work

Because so many people are working remotely, there is a growing demand for properties that have dedicated workspace and larger live-in quarters.