All the signs are pointing to a solid growth in the Multifamily housing market. Rental units are in high demand and rents are growing at a sustainable level. Both are positive signs for developers and investors.
Whether it is new construction or an existing property, today’s renters expect cutting edge technology. Before you invest in remodeling and upgrades in your multi-family housing, think about the renter and what appeals to them.
Smart changes can increase the value of your property. Green’ lifestyle with eco-friendly appliances and windows, green energy, solar roof, attract the new renter
A recent article in the National Apartment Association writes
To meet growing demand, America needs to build at least 4.6 million new apartment homes at all price points by 2030. In addition, as many as 11.7 million older existing apartments could need renovation during the same period.
The fasted growing markets include several cities in the Southeastern United States, including Orlando, Atlanta, Miami, Ft Lauderdale, Raleigh, and Charlotte.
As renting becomes more and more of a lifestyle choice, and not just an economic one, apartment demand will be driven by all age cohorts at every income level. Building 4.6 million new apartment homes by 2030 at all price points will go a long way in ensuring this demand is met.
“Even though we’re hearing about some markets potentially in an oversupply situation now, it’s typically occurring at the higher end of the market,” Munger said. “Keep in mind that we’re talking about apartments at all price levels, and that the research spans 13 years and even assumes two recessions.”
As renting becomes more and more of a lifestyle choice, and not just an economic one, apartment demand will be driven by all age cohorts at every income level. Building 4.6 million new apartment homes by 2030 at all price points will go a long way in ensuring this demand is met.
SWET Construction Group takes great pride an integrated approach to design and space planning for positive impacts not only for the building but also for the environment. We offer competitive pricing, innovative practices, clear communications and a trusted partnership. We also provide insights, essential data, news and extensive information to better inform their clients and strengthen their market position.