The future of real estate is looking to be in the suburbs, according to Ari Rastegar, CEO of Rastegar Property Company. In a recent Q&A, Rastegar discussed his thoughts on the suburban real estate market and how it is poised to grow in the coming years.
Q: Why do you believe the future is in the suburbs?
A: The pandemic has greatly accelerated the trend of people moving out of urban areas and into the suburbs. Remote work has made it possible for people to live farther away from their offices, and the suburbs offer more space, better schools, and a lower cost of living. Additionally, the suburbs have seen a resurgence in popularity among young families and empty nesters looking for more space and a better quality of life.
Q: How will this trend affect the housing market?
A: We are already seeing a shift in the housing market as more people move out of cities and into the suburbs. This is leading to increased demand for single-family homes and townhouses in suburban areas. We are also seeing a rise in the development of mixed-use communities in the suburbs, which offer a combination of residential, retail, and commercial space. This trend will likely continue in the coming years, leading to more growth and development in the suburban real estate market.
Q: What should investors be aware of when looking to invest in the suburban real estate market?
A: Investors need to be aware that the suburban market is becoming increasingly competitive. To stand out, they should focus on identifying areas with high growth potential, such as those with a strong job market or good schools. They should also look for properties that offer unique amenities or have potential for redevelopment. Additionally, investors should be aware of local zoning laws and regulations, as well as the potential for changes in the future.
Q: How do you see the suburban real estate market evolving in the future?
A: The suburban real estate market will continue to evolve as more people move out of cities and into the suburbs. We will see a rise in the development of mixed-use communities, as well as an increase in demand for single-family homes and townhouses. Additionally, we will see more growth and development in the suburban market as investors continue to recognize the potential for returns in these areas.
In conclusion, Ari Rastegar sees the suburban real estate market as the future of the industry. The trend of people moving out of urban areas, driven by the pandemic, will lead to more growth and development in the suburban real estate market. Investors should focus on identifying areas with high growth potential and properties that offer unique amenities to stand out in a competitive market. Additionally, they should be aware of local zoning laws and regulations.