News: Spotlights
Posted: December 29, 2023
2023 Year in Review: Mike Cobb, Colliers
Managing Director | Maine
Colliers
What person, project, transaction, or market trend had the greatest impact on your industry this year?
Rising interest rates in 2023 had a significant impact on the real estate market. With an active market in 2022, sellers still had high pricing expectations. However, buyers found it harder to secure a good deal due to tightening lending institutions.
What emerging trends will drive investment and development in 2024?
Creative reuse of existing buildings will continue to be popular. In Maine, empty big box stores are being converted to recreational facilities. Old buildings, with the appropriate zoning, are being reused for light industrial or distribution purposes. Outdated or vacant office buildings are being transformed into residential spaces.
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The New England Real Estate Journal presents
the First Annual Project of the Year Award! Vote today!
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!