Several economic trends affect the multifamily investment market on macro and micro levels.
Several economic trends affect the multifamily investment market on macro and micro levels. Generational shifts, and economic changes, are just a few factors to consider when investing in the commercial residential real estate market.
As Baby Boomers retire they tend to seek smaller homes that require less expenses and effort to maintain. Millennials agree – factors such as delaying marriage, debt, and a preference for downtown living fuel this appeal. Urban and suburban multifamily properties appeal to these generations, and those that offer city or town amenities within walking or biking distance are generally the most desirable.
Macro and microeconomic concerns drive demand for multifamily unit rentals, but location-specific amenities drive demand for specific properties – both Boomers and Millennials expect conveniences such as high-speed internet and easy access to public transit. In addition, features that were once “nice-to-haves” such as bicycle parking, an in-unit washer and dryer, and a rooftop deck are quickly becoming must-haves as the urbanization trend continues.
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