Recent research has revealed that multifamily housing and apartment rentals will have a reasonably strong year in 2017, with high returns on investments. Vacancies in major cities in the Southeastern United States have decreased or held under 4%. While owners of multifamily housing saw a moderate increase in rent in 2016.
Multifamily Housing Will Continue to be a Valuable Asset in 2017
“One major factor is Millennials’ preferences; they continue to favor renting over homeownership due to an array of factors, most notably the huge amount of debt the generation is carrying from college. That, and a large disparity in Millennial wages versus property values continues to bolster demand for multifamily, ” according to an article in Bisnow.
Unique long term drivers make investing in apartment housing very favorable. The article went on to describe who will be fueling the demand for multifamily housing.
“The US population is expected to increase by almost 26 million people by 2025, according to the US Census Bureau. Millennials surpassed Baby Boomers last year as the largest living generation in the US, and Rent is expected to remain in the prime renting age for another decade.”
Rents will remain a healthy level in the upcoming years, making multifamily housing a consistent and powerful investment opportunity.
“One other factor is a lack of affordable housing in the country’s major metros, which is forcing both businesses and residents to less expensive markets, resulting in migration to markets like Tampa, Orlando, Phoenix, Atlanta and Miami.”
Partnering with the right construction group will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success.
SWET Construction Group is a full service company who understands the big picture and well as the latest trends. We have the experience and knowledge to handle large and small multi-family construction. We take pride in our professionalism and innovative approach, we are known for our quick turn around on projects and staying on budget.