How are top real estate developers and lenders planning to stay ahead in 2023? What's top-of-mind for the industry and what are this year's biggest challenges?
We surveyed both lenders and developers to find out and published the results in our 2023 State of Construction Finance Report.
This report takes a closer look at how lenders and developers are addressing and perceiving construction finance in 2023.
- 64% of respondents claim that software has helped their team gain efficiency and productivity.
- 58% of lenders are investing in process improvements to stay ahead and combat the current macroeconomic climate.
- 46% of lenders say risk on projects has increased over the last year.
- 68% of developers have invested in process improvements to improve upon legacy processes in the last year.
- 39% of draws get sent back to developers for additional documentation by the lender.
- 46% of lenders say they would automate the identification of at risk projects.