After a challenging 2023 where land transactions plummeted by 60%, 2024 has kicked off with vigor, and the market has regained its momentum.
The fundamentally strong demand for residential and industrial assets, combined with a potential decrease in interest rates and stabilized construction costs, is enough to drive the market.
According to Landerz, January 2024 was by far the most successful month in the past 18 months, and February continues on the same trajectory.
Land prices haven't seen significant drops, and we no longer anticipate further declines.
However, it remains possible for buyers to secure advantageous deals by including rezoning conditions and delaying the closing until groundbreaking. This approach often proves more beneficial than mere price reductions.
We anticipate market tightening throughout the year, with a return to a seller's market expected as soon as September.
Hence, we recommend buyers to capitalize on the still favorable conditions in the upcoming months.
Simon G. Boyer
President, Founder"
