All the articles and news about a multi-family housing bubble, have left many investors concerned. If you take into consideration the potential apartment and condo renters are on the rise, at least a million new tenants a year, while only less that half of that are being built. Which means the market should stay strong and all that concern could turn into big profits!
What will the new renter be looking for in an apartment?
A recent survey by Multifamily Design + Construction Magazine concludes new projects and renovations of existing multi-family housing have found certain amenities are being used for marketing purposes.
Business services amenities:
Free Building-wide WiFi: 59.8%
Conference Room: 48.3%
Individually Metered Utilities: 48.3%
Business Center: 42.0%
Electric Vehicle Charging Station: 42.0%
High-speed Fiber Optic Service: 37.9%
Computer Room/Lounge: 36.8%
Media Room/Media Center: 29.3%
Smart technology is clearly catching on with developers and designers.
Nearly one in four (24.7%) have placed a smart home system (such as Nest) into a project. More than one in five (21.3%) respondents said they had built phone-charging stations into their complexes. Some brave pioneers are experimenting with exciting new concepts like co-working spaces (27.6%) and so-called “maker spaces,” innovation centers, or incubator spaces (10.9%).
Construction of Multi-Family Housing
Today’s construction of multi-family housing is becoming healthier, smarter and all-inclusive. SWET Construction Group is a full service company who understands the big picture and well as the small details. We have the experience and knowledge to handle large multi-family construction to a more modest dimensions. We take pride in our professionalism and innovative approach, we are known for our quick turn around on projects and being cost efficient.
SWET Construction Group is a leader in the construction and renovation of multi-family housing, apartments, condominiums and commercial building throughout the Southeastern United States, offering cost-effective plans, fast and attractive flooring, interior design services, drywall, metal framing, paint and waterproofing.