Austin, TX – MyEListing.com, a commercial real estate (CRE) data and listing platform, recently published a report highlighting notable CRE movements indicative of a market that’s bottomed-out. Among these movements were significant upticks in CRE sales in Q2 2023 and billion-dollar interest in the student housing sector.
According to MyEListing’s report, the multifamily, hospitality, industrial, and even the office space sector saw “decent price growth” in Q2 2023.
Multifamily demand remains high as interest rates and an accelerating housing market keep aspiring homeowners on the sidelines; demand for hospitality continues to grow as more remote workers travel and popular tourist destinations thrive; “solid fundamentals and rent growth potential” still prop up the US industrial sector; and highly vacant office complexes are being sold at heavily discounted prices due to decreased rental incomes.
Student housing rents are also outpacing those of their traditional multifamily counterparts as billions of dollars of investor money pour into the sector.
“Over the last six months,” says the report, “average off-campus student housing rents grew by about 7%; some universities even saw rental growth as high as 20%. This was especially true for universities located within the Sun Belt region of the United States, where costs of living are generally lower and housing investments have picked up.”
The report also says that over half of student housing deals that occurred in H1 2023 came from investor funds. For comparison, investor funds comprised only 12% of student housing deals that occurred the previous year.
And, while multifamily rent growth continues, it pales in comparison.
“While multifamily apartment rents outside of the student housing sector have also risen,” says the report, “they’ve done so at a more moderate pace. It stands without question that, in the current market, student housing remains a more appealing investment than regular multifamily apartments.”
You can read the full complete report here: https://myelisting.com/commercial-real-estate-news/1714/weekly-cre-news-cre-sales-student-housing-nyc-cinema/
MyEListing.com is a national commercial real estate marketplace and data platform. Users can sign up for free and get access to accurate local market intelligence, comp software, a national agent directory, and more. The site also supports other players in the industry, including NAI Global, Colliers, and Cushman & Wakefield.
Media ContactCompany Name: MyEListingContact Person: Nate BarberEmail: Send EmailCity: AustinState: TexasCountry: United StatesWebsite: https://myelisting.com/