In the wake of economic recovery, decreased vacancy rates and lower rent prices have facilitated growth in multifamily complex starts. In addition, declining homeownership rates, aggressive lending into the multifamily sector and gains in both employment and disposable income have all boosted demand for apartments and condominiums. Over the five years to 2019, this trend will likely continue; demand for multifamily construction is expected to increase due to the continued migration of the US population toward metropolitan areas, where these complexes are more common.
This industry is composed of general contractors responsible for constructing new multifamily residential units, including high-rise apartments, townhouses, condominiums and medium-to-high density units (i.e. units not separated by a ground-to-roof wall). All of the complexes may be constructed for sale as condominiums or cooperatives, or used as rental apartments. This industry does not include speculative builders or contractors who build on their own account for sale.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.