Real estate experts all agree that properties in commercial real estate will continue to drop even after the major decline that started in 2009. Despite claims that the market is going up compared to figures from previous months, there is still a big possibility that commercial properties will still lower its prices due to low demand in the market.
However, real estate experts claim that the major price drop is likely to be over since the market is slowly on the mend. Despite the promised recovery, there is still a low chance for the prices to go back to its normal level. Analysts believed that commercial real estate properties will still be below 35% to 40% its normal values but declines will probably drop as the market rights itself out.
Accordingly, Florida commercial real estate properties are in a hopeful situation as demands are slowly filtering to many of its cities, like Miami for instance. Despite being on the top list of home resale, commercial properties in Florida is still in the mend, so to speak; yet recovery is still plausible, maybe imminent, for this year.
William W. Teho, Jr.
Florida Commercial Real Estate
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