The demand for multifamily and apartment housing continues to soar here in the Southwestern United States. According to Multifamily Executive,
The multifamily market experienced considerable strength in the second quarter, with anticipation of continued demand in the third quarter, according to CBRE Research’s latest U.S. Multifamily Figures report.
Demand also is outpacing supply in most major markets. Over the past year, the major Florida metro areas—Miami and South Florida, Tampa, Orlando, and Jacksonville—added 34,200 units with net absorption at 50,500 units
Combinations of multifamily housing and multi use building are among the most popular types of construction. Orlando, Florida had an occupancy rate of 95.4 percent, average monthly rent was $1,602, the occupancy growth rate was 0.9 percent, and the average annual rent growth was 3.8 percent. While Atlanta, Georgia is still trying to keep up with its fast growing population.
The multi-family sector has proven to be an overall great investment. In the United States, there has been a lifestyle shift, making the demand for multi-family housing and apartment living go through the roof. According to a recent Harvard Study, the rental industry is expected to grow by 4.2 million people by 2025.
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.
Ensuring your multifamily housing looks attractive and is keeping up with all the latest trends, you need a construction group you can count on. As a leader in the industry, SWET Construction has the experience and know how to keep you a step above the competition.
Contact SWET Construction Group for your next renovation or construction project.