Though it seems single family houses have reigned in Florida and Georgia but since the recession and real-estate crash, the demand for apartment complexes have never been greater.
This year in Orange County, Florida, new apartment complexes account for over a third of new construction, that’s double that of the years of the housing boom. This combined with the fact that maxed out occupancy rates for apartment are at an eight year high, makes multi-family housing a lucrative investment.
Not only is it about families not being able to get approved for a mortgage or seeking stability from the economy, it’s about the lifestyle.
Apartment complex living is easy and carefree. For instance, families can walk their kids to school, enjoy all the amenities, pool, parks, dog walking areas, and walk to shopping. The renter doesn’t have to worry about doing yard work, painting, repairs, taxes, and if the drain gets clogged he simply calls the property manager and it’s fixed before they even get home. According to a recent study done by the Federal Reserve, a quarter of those renting apartment did not want the upkeep of a home.
In Orlando alone, since 2010 rent for an apartment has increased 33 percent.
“Orlando has one of the few major apartment markets that is actually stronger now than it was in 2011, when most markets hit their post-recession peak,” said Jay Denton, vice president of the analytics firm Axiometrics.
The multi-family construction industry in Georgia and Florida is highly competitive, this includes new building and renovation of apartments, condominiums, hospitality and assisted living facilities. Partnering with SWET Construction Group will not only keep your construction costs low while achieving beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
SWET Construction Group is an industry 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.