"San Francisco had become an unsavory city, but we believe we're starting to see a real recovery and we think it's a good time to buy."
"Property values have declined 30% to 50% from their pre-pandemic highs, creating an attractive buying opportunity."
"There's more people interested. It's not a secret like it was a year ago."
"Asking rents in San Francisco were about $3,500 a month in the first quarter of 2020 and fell 25% by the end of the year."
San Francisco's commercial real estate market is bouncing back post-pandemic, spurred by companies implementing return-to-office mandates. Apartment investors, encouraged by falling property prices (30%-50% below pre-pandemic levels) and a predicted rental increase of 4%-6%, are becoming more competitive in the city. Rents, which fell 25% during the pandemic, are now recovering, with average rents hitting around $3,200; the first quarter of 2023 saw a significant 6.4% rise year-over-year. This trend suggests a favorable landscape for investors looking to capitalize on the rebound.
Read at Business Insider
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