30 Apr 08 Oakland California Condominium and Residential Development

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Oakland California, located in the East Bay area of California, is anticipating new growth due to its appealing alternative to living in San Francisco. Both businesses and residents are beginning to realize that Oakland can provide lower costs of living, including less expensive housing and cheaper rent than San Francisco.

According to Property & Portfolio Research Inc, published in a recent Wall Street Journal article, “the East Bay real estate market, while still commanding some of the country’s highest rents, is showing signs of strain. Office vacancies are rising, and rental-rate growth slowed to a forecast 1.7 percent this year from nearly 8 percent in 2007”.

Tags: bay area, California, condominiums in oakland, oakland real estate, property and protfolio research, rental units, san francisco, wall street journal