San Diego rose to the top of PricewaterhouseCoopers’ and Urban Land Institute’s 2006 Emerging Trends in Real Estate study, billed as “the most predictive forecast” for the real estate market.
Emerging Trends is an annual report based on data from more than 400 one-on-one interviews with industry experts, such as investors, developers and brokers, and provides an outlook on U.S. investment and development trends for 12 months and beyond, according to Peter F. Korpacz, director of global strategies for PricewaterhouseCoopers.
San Diego beat out “perennial leader” Washington, D.C., while the Southern California region in general was cited for its “extraordinary climate, geographic boundaries , deserts, mountains and ocean , deepwater ports and a diversified economy, including defense, biotech, financial services and entertainment,” making it overall “the nation’s best place to invest.”
“We are delighted that San Diego has earned top recognition in Emerging Trends for the first time in the history of this highly regarded study,” said Julie Meier Wright, president and chief executive officer of the San Diego Regional Economic Development Corp. “The strength of the San Diego region is remarkable and we anticipate sustained growth in the future.”
Added Peter Hall, outgoing president and chief operating officer for the Centre City Development Corp., “There’s so much positive energy in San Diego’s commercial and residential real estate markets. Our challenge will be sustaining this momentum.”
, Pat Broderick