The US economy, building on the momentum of an often sluggish but long recovery since the Great Recession, grew at an annual rate of about 3 percent by the end of the year. Unemployment fell during the year even as inflation remained low by historical standards. The Dow, the S&P and Nasdaq soared to record levels throughout the year. Reasonably strong US economic growth is expected in 2018, thanks to the corporate and individual tax cuts passed in December, and to the Trump administration’s continued commitment to reducing government regulations.

Due to the continued rise of e-commerce, we expect another strong year for the industrial sector, while the retail sector will face continued pressure to remain innovative as it faces the challenge of online shopping. The single-family housing market will continue to experience an affordability crisis due to a lack of supply, resulting in a potential boost in demand for the apartment sector.

In 2018, we expect that risks in the financial markets and political uncertainty will continue and keep investors on the lookout for stability in a risk environment. In this report, we will explore the economy, the capital markets and the property markets in detail and provide our collective perspectives for 2018.