What Tech Offices Really Mean For Local Housing Prices

A comprehensive economic analysis out of UCLA shows the impact of tech office openings on local housing prices.

Openings of tech offices are associated with “strong and long-lasting” impacts on local housing prices, according to a new analysis by UCLA’s Benjamin Freyd.

His research found that within two years of an office opening, housing prices rose 11% within 1 kilometer o the new office relative to matched areas between 1 and 3 kilometers away. The difference persists, he says, at around 8% five years later. And the effects are “substantially larger” than those found when supermarkets or coffee shops open in a neighborhood.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Lynn Pollack

Dig Deeper

Recommended Stories

Apartment Starts Plunge in March

Philippa Maister | April 30, 2024

The drop gives some insight into when the excess supply might start to taper.

These Cities Posted the Sharpest Drop in Apartment Rents

Philippa Maister | May 01, 2024

But the West emerged from 13 straight months of falling rents to achieve an annual increase of 0.4%.

CRE Fundraising Drops to Five-Year Low

Richard Berger | May 01, 2024

With interest rates expected to stay elevated, real estate investors are likely to remain cautious in their fundraising.

Resource Center

Better decisions come from better data, insight and coordination. Download this guide for insights on how to optimize the lease administration process and recommendations for best practices to deliver increased ROI across the lease lifecycle.

Guide

Sponsored by LeaseAccelerator

The Real Estate Leader's Quick Guide: Insights for Better Lease Administration

Better decisions come from better data, insight and coordination. Download this guide for insights on how to optimize the lease administration process and recommendations for best practices to deliver increased ROI across the lease lifecycle.

Browse More Resources ›

Discover how to transform your real estate assets from mere spaces into vibrant experiences that captivate tenants -- and their employees -- to support engagement and retention.

Guide

Sponsored by HqO

How to Develop a Real Estate Experience (REX) Strategy for Your Tenants

Discover how to transform your real estate assets from mere spaces into vibrant experiences that captivate tenants -- and their employees -- to support engagement and retention.

Browse More Resources ›

Cementing your CRE portfolio’s long-term growth means assembling a great tech stack to support your goals. However, selecting the right solutions takes preparation and research. This guide outlines five areas of consideration to help you find the right fit.

Guide

Sponsored by Building Engines

How to Choose the Right Building Operations Tech to Boost Your NOI

Cementing your CRE portfolio’s long-term growth means assembling a great tech stack to support your goals. However, selecting the right solutions takes preparation and research. This guide outlines five areas of consideration to help you find the right fit.

Browse More Resources ›

GlobeSt. Multifamily Fall 2024Event

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2024 ALM Global, LLC. All Rights Reserved.