There are many reasons to invest in Multifamily Housing in 2022. Besides being very profitable for investors and high demand, there are a few trends that will be shaping the new year.
A recent study commissioned by the National Multifamily Housing Council and National Apartment Association shows there will need to be at leas 4.6 million new apartment homes built in the United States, at all price points, by 2030 to keep up the demand. While existing apartments, over 11 million, will need updates and renovations.
The demand for apartment rentals is on the rise. According to Entrepreneur:
If you’re looking into real estate to make big money through rental properties, 2022 could be your year. Rising home values will impact the rental market and price a large share of homebuyers out of the market.
Until real estate inventory opens up and pricing stabilizes, rent may be too expensive for many individuals. Many would-be homebuyers may find that they can’t save for hefty down payments, including in the single-family home market.
Ultimately, many people will choose to stay in the rental market longer, which bodes well for you as a rental investor
Work from home amenities
The pandemic has made apartment residents aware of their living environment and importance of their wellbeing. Physical, as well as mental health has become a priority. Floor plans that provide extra space to comfortable work from home, outdoor space such as balconies and terraces, and state of the art filtration and HVAC systems.
Reduce carbon emissions
Not only is the multifamily housing industry under pressure to reduce carbon emissions, there are more opportunities than ever. Residents are also more aware of the advantages of being more sustainable and are seeking out apartments have these same values.
The Success of your new or existing multifamily housing project
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 a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
Contact SWET Construction Group for your next project.