August 1st, 2019
Construction and renovations of multi-family housing and apartments in the Southeastern United States are in high demand. In fact, we haven’t seen such a high demand in past five years, and it doesn’t show signs of stopping.
According to Housing Wire, the shortage in affordable housing has left many people searching for reasonably priced housing across the country.
“According to recent data from Real Page, the national occupancy rate rose to 95.8% from 95.4% last year.”
“Apartment leasing activity accelerates during the warmer weather months, and demand is proving especially strong in this year’s primary leasing season,” according to RealPage chief economist Greg Willett.
“Solid economic growth is encouraging new household formation, and rentals are capturing a sizable share of the resulting housing demand,” Wlillet continued. “At the same time, loss of existing renters to home purchase remains limited relative to historical levels.”
Investors seeking high return on their investments are focusing on the Southeastern United States, favorable locations. The demand for multifamily housing in Florida is expected to add 669k new apartments households by 2030. Georgia is expected to add 220k new apartments by 2030. South Carolina 63K and North Carolina 220k.
To keep pace with today’s industry, it is important to incorporate high quality materials, unique details, entertainment elements, current trends, colors, and styles, to create a unique living environment to fit the community and draw in tenants.
Since your building is the first thing your visitors and guests see, make sure the appearance is aesthetically pleasing and is a good representation of your company. Painting adds value to your property at a minimum expense, compared to replacing materials. If you are considering a rent increase, it may be easier to justify with added curb appeal and fresh, clean interior, it will be so nice your tenants won’t want to leave.
As a leading construction group in the Southeastern United States, SWET Construction Group specializes in new developments and renovations of multi-family housing properties. Our professional team of experts gives our clients the ability to control costs and services. Our goal is to deliver a quality product in a cost effective and timely manner.