Search
 

GlobeSt.com EXCLUSIVE: Multifamily Market Will be Strong Next Year

NEW YORK CITY-When it comes to investing, one industry executive believes that next year could be a banner one for the multifamily housing market, if the expected economic recovery takes hold.

By Barbara Jarvie | Updated on December 16, 2003

NEW YORK CITY-People always need a place to live and that’s the main factor that kept the multifamily housing sales market so resilient during the economic downturn. But now that it appears an economic upswing is in the offing, we might see a noticeable rise next year in sales.

“You also have to remember that with apartments, we are talking about shelter,” says Keith Misner, senior managing director in charge of Cushman & Wakefield’s national multifamily business. “People need a place to live no matter where the economic cycle is at.”

Misner also expects the levels of capital flow activity, which have been healthy in 2003, should continue to be strong in 2004. “In markets such as Florida, Southern California and the Mid-Atlantic region, including Washington, DC, Philadelphia and Delaware, condos are just as viable an option as renting,” he points out.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.