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San Francisco : Office market - 2015

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San Francisco : Office market - 2015

San Francisco unemployment nears historic lows, falling to 3.3% at the end of the fourth quarter 2015. Almost 21,000 new jobs were added during the year, a 3.9% increase. In addition, 50,000 new jobs were created in Silicon Valley, a 5.4% increase, and Alameda and Costra County added 18,000 new jobs, a 1.7% increase. However, as the cost of living and doing business in San Francisco and the Bay Area continues to escalate, the ability of growing firms to attract and retain talent may be negatively affected. Technology firms particularly, which rely on a younger workforce, may be priced out and forced to direct their growth elsewhere in the U.S. The Bay Area and California lead the nation in the amount of venture funding invested in local companies, which has had a "boom" effect on the real estate market, both for commercial and residential properties.

Source : BNP Paribas Real Estate

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