While home ownership was once the American Dream, there has been a progressive, long term shift to multifamily housing.
In some areas that shift is much more apparent, the Southeastern United States, Orlando, Miami, Atlanta, Tampa, and Jacksonville, include cities where renting has increased substantially.
“Demand from renters will stay high, thanks to an improving economy and job market – plus more people setting up their own households, especially Millennials and immigrants. So will the volume of new properties coming on-line help ease the pinch that many renters feel? Nationally, it looks like more supply is needed. Across markets, the conditions vary,” according to research by FreddieMac.
The steady growth in multifamily housing, higher rental yields and continued high occupancy rates, make the apartment sector a profitable investment as the economic cycle continues into 2018.
There are more renters now than ever before, making it a great time for property investors.
The need for new construction and renovations of multi-family housing and apartment are also increasing. However, these types of projects have a distinct set of challenges and innovations that require specialized knowledge and dedication.
The ‘Going Green’ movement is also growing at a tremendous rate. More and more apartment management companies and multi-family property owners are looking for construction groups such as SWET Construction to incorporate and recommend energy efficient products and construction methods that will not only save them money but benefit the environment as well.
The multi-family construction industry 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.