With $35.4 billion worth of multifamily investment sales, Q1 2016 was the strongest first quarter ever recorder for the apartment industry. Secondary markets and suburban properties represented much of that growth.
The multifamily market has experienced a nearly unprecedented run since the end of the recession. Multifamily growth has been driven by age related demographic trends, homeownership is nearing its lowest point in nearly half a century, and foreign investment reaching new highs.
New Fannie Mae and Freddie Mac multifamily caps should drive sales in 2016; NYC’s zoning code turns 100; rent growth slows in larger markets.
Most new multifamily construction has focused on delivering large, amenity-rich properties. As the small asset (5 to 49 unit) apartment stock ages, the potential for value-add investment increases.
Millennials and Retirees Drawn to Luxury Rentals, and Developers Respond MarketWatch – May 12, 2016 “If there’s a new apartment building going up in your neighborhood, chances are you can’t afford to live there. Much of the new rental apartment stock that hit the market last year was of the high-end, luxury variety — and that trend doesn’t appear to be slowing down, according to a new report.”
The size of an apartment property can tell you a lot about how its tenants earn a living. Larger assets typically mean larger incomes.
Here are our weekly picks for must-reads relating to the apartment industry, and a few items we think you’ll just find interesting.
Here are our weekly picks for must-reads relating to the apartment industry, and a few items we think you’ll just find interesting.
