New York City may be the city that never sleeps, but it is beginning to look like, as with real life, getting a good amount of rest does a body, or a city, good. In the new Emerging Trends In Real Estate 2016 report, which is compiled by ULI and PwC, 84 percent of respondents believe the market is good to excellent, and 8 out of the top 10 cities identified as the most favorable for investment and development in 2016 are so-called 18-hour cities, reports Urban Land.
These cities, which combine the hustle and bustle of larger cities with periods of rest and quiet, provide greater risk for investment and development, but also offer better opportunities and the potential for higher yields, according to survey respondents.
Part of the attraction to these 18-hour cities is that many of them, such as Austin, Denver, San Diego, and San Antonio, are hotbeds for entrepreneurs. In addition, these cities typically offer more affordable places to live and amenities that appeal to a wider range of different generations.
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