A Sunrise Multifamily Market Special Report was recently released. The report examines the rising number of apartment complexes being developed in the capital region, and addresses the question of whether there is an apartment building bubble.
"While it certainly seems like apartments are being developed everywhere in the Capital Region, a study of the underlying metrics of new unit construction and housing demands show that there is continued and steady growth in demand for multifamily housing," said Jesse Holland, president of Sunrise Management & Consulting.
The report looks at population growth projections, trends in building permits, housing construction, and historical vacancy rates, as well as shifting demands for housing in the capital region. The report finds that while the volume of new apartment units is growing faster than development of single family homes, the market will experience positive multifamily housing unit absorption over the next three to five years.
The Sunrise Multifamily Market Special Report: "Is there an Apartment Bubble in the Capital Region?" is available at www.sunrisemc.com/current-reports.com
Sunrise Management & Consulting, headquartered in Albany, is an innovative third party property management company that provides performance-driven management, consulting and market information services for owners and investors in residential and commercial real estate.
Jesse Holland, president and Founder, is responsible for the vision and direction of Sunrise Management & Consulting business initiatives. He creates new business opportunities, designs innovative management and training programs, and leads development of staff excellence. Jesse is an Institute of Real Estate Management (IREM) Accredited Residential Manager (ARM) and Certified Property Manager (CPM), a Quadel Certified Assisted Housing Manager (AHM) and a Licensed Real Estate Broker in New York State, New Jersey, Pennsylvania and Massachusetts. Tags: