The Trends and Future Growth of Multifamily Real Estate AmenitiesOctober 2017 – Publications / Mentions
The growth of the multifamily housing market has been driven by both the migration of empty-nest baby boomers looking to downsize into urban communities and the barriers to property ownership facing millennials in the post-recession marketplace. Urban areas remain highly desirable, and multifamily vacancies are generally low – but competition is strong.
Emerging technologies are giving way to new property amenities that can enhance the profitability of a real estate development, but which may bring regulatory and legal concerns of their own. Early adopters could leap ahead of their competition – or find themselves with costly and obsolete additions that take up valuable space.
Goulston & Storrs’ 2017 Multifamily Real Estate Amenities Survey showed that the top three concerns of multifamily real estate professionals – executives and senior employees of financing companies, owner/developers, managers and attorneys – are:
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