In Case You Missed It: Week of August 29
Spy planes are tracking apartment construction; 10 spots with Class B rent growth premiums; apartment rents break record for 8th straight month; cap rate trends; and more in this week’s multifamily news roundup.
63 Percent of GCC Wealthy Individuals to Invest in Global Real Estate in 2016
World Property Journal – September 1, 2016
“According to international real estate consultant Cluttons, Gulf Cooperation Council (GCC-based) high net worth individuals are set to continue investing in global real estate for the remainder of the year, with the 63% claiming that they are likely to invest in their most preferred real estate investment location during 2016.”
How a low-flying, spy plane is setting your apartment rent
CNBC – August 31, 2016
“Using a low-flying, military-grade reconnaissance plane, equipped with cameras once used to gather data over Iraq and Afghanistan, CoStar Group, a commercial real estate information company, is gathering about twice as much construction data as its competitors.”
Apartment Rents Hit Record High for 8th Straight Month
Mortgage Bankers Association – August 31, 2016
“The report said 18 of the top 30 metros have seen solid growth of 4 to 7 percent over the past year. Top 10 metros for year-over-year rent growth in August were Sacramento, Calif.; Seattle; California’s Inland Empire; Atlanta; Los Angeles; Portland, Ore.; Dallas; Phoenix; Nashville/Knoxville, Tenn.; and Orlando, Fla.”
Q2 2016 Apartment Cap Rate Trends
Reis – August 29, 2016
“It remains remarkable that this far into an economic expansion that investors are willing to pay such a premium for apartment properties. Certainly, the low-yield environment around the world plays a big role, especially given the relative strength that we have observed in apartment fundamentals.”
Here’s a List: 10 Spots with Rent Growth Premiums for Class B Apartments
RealPage – August 29, 2016
“As with every national trend, results vary quite a bit from one individual market to another. Among the country’s biggest metro areas, here’s where the rent growth premium for Class B projects over their Class A counterparts is most pronounced.”