{"id":3221,"date":"2020-06-16T17:48:31","date_gmt":"2020-06-16T17:48:31","guid":{"rendered":"http:\/\/www.swetconstructiongroup.com\/blog\/?p=3221"},"modified":"2020-06-16T17:48:31","modified_gmt":"2020-06-16T17:48:31","slug":"florida-multifamily-apartment-housing-market-on-the-rise-in-2020","status":"publish","type":"post","link":"http:\/\/swetconstructiongroup.com\/blog\/florida-multifamily-apartment-housing-market-on-the-rise-in-2020\/","title":{"rendered":"Florida Multifamily & Apartment Housing Market On The Rise In 2020"},"content":{"rendered":"

In spite of these difficult times, many small markets are seeing a surge in construction of multifamily housing and medical buildings.\u00a0<\/span><\/p>\n

A recent article in Real Page<\/a>, “New Apartment Supply in Several Small Markets to Rise in 2020”, reveals some of those locations for investors.<\/strong><\/p>\n

\"1\"Of the seven smaller markets scheduled to see a spike in new supply in 2020, four are in Florida. As with much of Florida, these four markets have benefited from in-migration of new residents \u2013 particularly retirees \u2013 and necessitated varying levels of new construction after recent hurricanes.<\/p>\n

The Palm Bay market, located off the eastern coast of Florida, has seen limited new supply during this economic cycle, but the 2,234 units scheduled to come online in 2020 is nearly twice the total amount of new supply received so far this cycle. This new stock will grow total inventory by 6.5% in 2020, and growth will be similar \u2013 with another 2,000 units scheduled to complete \u2013 in 2021.<\/p>\n

Cape Coral-Fort Myers, FL will see the completion of more than 3,000 units in 2020, more than double the deliveries from 2019. This year\u2019s deliveries represent a 50% increase in total cycle supply. This market will grow total inventory 7% in 2020, and another 5.9% in 2021. Deltona-Daytona Beach \u2013 the only Central Florida market on this list \u2013 is set to see more than 1,700 units complete this year, about 1,000 units more than in 2019. Since 2010, the market has received only 1,700 new units, so oncoming supply will grow the total cycle new supply by about 75%. This market will see total inventory grow 5.2% in 2020 and another 4% in 2021. North Port-Sarasota-Bradenton, on Florida\u2019s west coast, is slated to receive about 3,000 units in 2020, roughly 1,000 more than delivered in 2019. This market will grow inventory 5.4% in 2020 and 4.2% in 2021.<\/p>\n

Another hurricane-impacted market, Wilmington, NC, will see unprecedented new supply in 2020 with nearly 1,400 units scheduled to deliver. Though the North Carolina market has seen consistent new supply this cycle, it has never hit such a high annual inventory growth rate, which is anticipated at 6.2% in 2020.<\/p>\n

SWET Construction Group is an industry leader in the construction and renovation industry<\/strong><\/p>\n

Multi-Family housing renovations in the Orlando and Atlanta areas are SWET Construction Groups specialty. From the roof to the foundation and everything in between, we give you the results you’re looking for. If your property is in need of routine maintenance or a fresh, attractive look for new clients, SWET Construction Group will meet and even exceed your expectations in a timely and professional manner.<\/p>\n

The expert management team at SWET Construction Group is proud to provide cost competitive turnkey projects. All of our projects receive continuous supervision, customer satisfaction and attention to detail, from beginning to end. Contact SWET Construction Group for your next project.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Affordable renovations and construction for multifamily housing in Southeastern US. Orlando, Miami, Tampa, Jacksonville, Atlanta, Charlotte, North and South Carolina, Florida, Georgia <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196],"tags":[69,86,30,25,24,26,79,20,81,71,102,59,39,56,18,14,16],"_links":{"self":[{"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3221"}],"collection":[{"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/comments?post=3221"}],"version-history":[{"count":4,"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3221\/revisions"}],"predecessor-version":[{"id":3238,"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/posts\/3221\/revisions\/3238"}],"wp:attachment":[{"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/media?parent=3221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/categories?post=3221"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/swetconstructiongroup.com\/blog\/wp-json\/wp\/v2\/tags?post=3221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}