Despite evident construction in the industrial sector, Raichura said that values are dropping.
“I think in truth, certain industrial values have fallen a lot more than the index,” he said. “Forecasting suggested, and we’ve been saying this for at least a year or so, we think industrial will outperform in the coming year.”
Raichura explained that the falling values happened in the market and are reflected in appraisal-based indices. He said that the indices are far behind the current market.
ReZa Norozy, COO of Prism Construction said that interest rates were expected to drop in 2024, and they did, though not as much as hoped.
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