Urbanization drives luxury multifamily market

downtown_phoenix_aerial_sketch-on-624x501ABEX

Multifamily construction in Greater Phoenix returned to record level highs for completed number of units, rental rates and investment activity for the first time in over a decade.

This year marks one of the highest rates of completion of multifamily developments since 2000. It also exceeds investment activity levels not seen since 2007. In turn, rental rates rose for a seventh consecutive year, which marks a 30 percent rise since 2009.

“There has been somewhat of a pent up demand for high-end, rental housing in Arizona for the past several years,” says Tom Shelton, principal at Shelton-Cook Real Estate Services.

Continued:

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

October 2016
M T W T F S S
 12
3456789
10111213141516
17181920212223
24252627282930
31