Even with interest rates likely to tick up this year, tax cuts are putting more dollars in people’s hands — driving demand for homes and products.
That bodes well for the commercial, industrial, office and residential real estate markets and real estate investors, panelists said Tuesday at the Greater Richmond Association for Commercial Real Estate’s annual market review and preview program. The event, held at The Westin Richmond, drew nearly 400 people with ties to the real estate industry for a look back and a look a look ahead.
“Raise your hand if you think Richmond is on the rise,” panelist Jamie Galanti, a vice president at Commonwealth Commercial brokerage, asked the audience.
“Richmond … has always sort of flown below the radar. A few developments in the last couple of years and we are now relevant and rising. We are uniquely poised to take advantage of a rising market in Richmond. It is so dramatic and so awesome to see, at least from the office side of things,” he said.
