Real estate investors are facing a new year in 2018, but many of the challenges — and opportunities — likely will be similar to those they faced in 2017. The current real estate cycle seems to be extending longer than most had expected. Barring any sudden events — some proverbial black swan — many predict the year ahead will, in broad strokes, resemble the year behind.

Cathy Marcus, global COO at PGIM Real Estate, says the challenges of 2018 are not likely to be much different from the challenges of 2017 — “maybe just a little bit amplified.”

“U.S. transaction volumes have slowed a bit, but the economy continues to grow slowly, with hints of acceleration,” says Scott Brown, global head of real estate at Barings Real Estate. “Despite the FOMC looking to normalize monetary policy, occupancies across the main property sectors remain strong, and rents continue to grow across markets and sectors, albeit at varying speeds. Development has picked up, but i