News
BE JEALOUS OF MULTIFAMILY
January 4, 2012
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| Rose Associates’ Chiho Machado told us yesterday that apartment vacancy ended the year at an eat-your-heart-out less than 1%. And with no new developments coming online until 2013, double-digit rental rate growth (in some buildings) will continue; some luxury properties in desirable locations even surpassed '07 levels last year. She says a muddy financing picture and lingering uncertainty about job security have kept people parked: Renewals have risen between 6% and 15%. |
