The apartment and multi-family housing construction is heating up in the Atlanta area! In fact, rents are reaching new record highs. Mostly because the Atlanta Market saw a steady growth over the last couple of years, combined with a strong economy and fueled by a hot job growth, makes it a great time to invest in Atlanta’s multi-family housing industry.
According to an article in The Atlanta Journal Constitution, “There’s been an increase in average rents for metro Atlanta – a boost that would come to 6.5 percent over the course of a year, according to Axiometrics, a Dallas-based firm that specializes in apartment research and data. Atlanta’s rent growth was the 13th highest among the top 50 markets, Axiometrics said. Nationally, rents averaged a 4.3 percent increase.”
As major companies are making the move closer to downtown Atlanta and Midtown, you can expect the demand for luxury apartment to rise! In 2016 rents surpassed $1,100 for the first time. As occupancy rate has held steady at 94.6 to 94.7 percent, which is great for investors.
Combine the Atlanta’s steady market performance, robust job growth, new apartment units moving quickly, with reduced home sales, the multi-family housing construction is definitely heating up.
SWET Construction Group bridges the gap between visualizing a concept and making the project reality, with cohesive spaces, rooms and designs that flow together both aesthetically and functionally. Whether it’s a new construction or renovation, we make the experience enjoyable by taking you through the process of building and designing, to ensure your project has the look and feel you imagine.
We encourage you to contact SWET Construction Group to discuss your building project. Our professionals will show you, examples and discuss options. We are able to work within your budget and will suggest cost saving options for your project.
Contact SWET Construction Group for your next project.