Here are the Hottest Markets For Multifamily Dwellings
Commercial real estate services and research company CBRE has determined that construction of new multifamily housing properties in the suburbs will outperform activity in urban markets.
The 2020 U.S. Real Estate Market Outlook notes that there are so many properties under construction that completions are on target to come in at 280,000 new units, just 1,000 less than in 2019.
CBRE believes that the Boston Metro area will be the most robust multifamily market in 2020, along with Austin, Atlanta and Phoenix.
We believe in Chicago too because its economic prospects are very good, its public transportation system is outstanding, and its young dynamic workforce has created a growing need for good, quality apartments.
But developers would be smart to focus on smaller markets as well. It cited a number of cities that had 4% or greater rent growth as of the third quarter of 2019, including Albuquerque, NM, Birmingham, AL, Colorado Springs, CO and Dayton, OH.
Time to get into the investment game; don’t you think?
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