SJU Real Estate Finance Program Releases First-Ever Survey of Philadelphia, Delaware Valley Professionals
Monday, March 20, 2017
by Molly Grab '17
The Haub School of Business’s real estate finance program has conducted its first Real Estate and Construction Survey of Philadelphia and the Delaware Valley. The report, which is based on a survey of local professionals in various real estate fields, contains 2016 year-end results as well as expectations for the upcoming year.
The Real Estate and Construction Survey marks the launch of a new series of research from the Haub School of Business that will shed light on important issues related to real estate in the greater Delaware Valley area. The authors of the survey — Karen Hogan, Ph.D., chair and professor of finance, Dan Jubinski, Ph.D., assistant professor of finance, and Rajneesh Sharma, Ph.D., associate professor of finance — expect the report to serve as a resource to the local community.
“We hope that the report will be a weathervane for the local real estate and construction industry and that professionals will look to the survey to guide them in the coming year's projects as they relate to real estate,” says Hogan.
The survey’s 117 respondents range from real estate agents to construction specialists, property owners, bankers, project managers and more, representing 134 professions in 10 areas of commercial real estate in Philadelphia and the Delaware Valley. The SJU Real Estate and Construction Alumni Advisory Board helped to design the study and also sponsored the annual luncheon at which the respondents were surveyed.
Significant findings from the Real Estate and Construction Survey Report include:
- 80 percent of respondents indicated that their business increased in 2016. Only 3 percent stated that business had decreased.100 percent reported an increase in hiring in 2016.
- 59 percent said that they expect business to increase again in 2017.
- Respondents agreed that the top strategic opportunities in the Philadelphia real estate market are infrastructure, tax abatement and the millennial market.
More details about these findings as well as other employment, growth, strategy and demographic statistics are contained in the full survey report.
“The survey is a gauge of the market sectors professionals believe will be busy and those that might have a leaner year,” Hogan says. “It also gives forecasts on hiring in those markets and where the growth or decline in employment will come from.”
About the Real Estate Finance Program: The Haub School of Business’ real estate finance minor is offered through the department of finance. This six-course program covers commercial real estate valuation and development, residential loans and investments, and offers students a real-world understanding of the real estate industry. Students also have the opportunity to network with alumni from the SJU Real Estate and Construction Advisory Board and obtain valuable internship and career experience through the program.