Luxury Apartment Demand Steady Amid Overall Multifamily Pressures: Report
August 14, 2023
Luxury apartment assets have proved resilient, due largely to rising housing prices and mortgage rates — and despite market pressures confronting the overall multifamily sector.
Vacancy rates for Class A rentals jumped 30 basis points (bps) from the end of 2022 through the midpoint of 2023, compared with a jump of 40 to 80 bps for Class B and C apartments, according to a new report from Marcus & Millichap (MMI)’s Institutional Property Advisors (IPA) division, released Monday morning.
Read the full story in Commercial Observer
Vacancy rates for Class A rentals jumped 30 basis points (bps) from the end of 2022 through the midpoint of 2023, compared with a jump of 40 to 80 bps for Class B and C apartments, according to a new report from Marcus & Millichap (MMI)’s Institutional Property Advisors (IPA) division, released Monday morning.
Read the full story in Commercial Observer
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About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.