With continuing rising rents and low vacancy rates in the Atlanta area, the multi-family housing and apartment construction is still growing and remains a lucrative investment. According to Real Capital Analytics, in the commercial real estate sector, apartments are on track to beat last year’s volume levels.
The increase demand for apartment living across generations have led to healthier, smarter and all-inclusive communities. Residences are looking to reduce their energy cost, green building materials, as well as, incorporating the latest high-tech device, where they can connect their phone to their home to check their energy consumption.
“Atlanta’s multifamily market benefits from a diversified economy, a healthy development pipeline and high investor demand. The population is growing, due to an influx of young professionals drawn to the 18-hour lifestyle and students that are educated in the city’s universities. Strong rent gains and increased demand for housing have created concerns about affordability, congestion and overdevelopment.” according to Multi-Housing News.
“In order to meet demand, the metro has one of the most active development pipelines in the country, with more than 60,000 units. Most of the upcoming supply is geared toward the high-end part of the spectrum, while demand is strong for both affordable and market-rate units. Rental rates hit a record high of $1,137, trailing the national average, and occupancy rates for stabilized properties are steady at 95 percent. We expect rent growth to maintain its healthy level: 8.3 percent in 2017.”
Whether its new construction or renovations of Multi-Family housing in the Atlanta areas, SWET Construction Groups is a leader in the industry. From the roof to the foundation and everything in between, we give you the results you’re looking for. Keeping up with the current trends is vital to success, SWET Construction Group will meet and even exceed your expectations in a timely and professional manner.
Contact SWET Construction Group today for your next project.