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Special Report

COVID-19 BUSINESS IMPACT & SENTIMENT

March 25, 2020

The economic and capital market disruption from the COVID-19 virus will take weeks, if not months, to measure. In response to recent events, IPA designed a survey to gauge the market sentiment of multifamily owners, operators, and developers representing nearly 900,000 units across the United States. 


We understand that investment strategies vary by firm. That's why IPA’s collaborative, data-driven culture is designed to deliver real-time, actionable insights of real estate capital markets. Global response to COVID-19 is ongoing, and policies to curb the contagion and mitigate its economic impacts are communicated regularly. IPA will periodically survey investors to gauge their sentiment during the COVID-19 response and recovery.

For more about this survey and other real time market insights please contact one of our Institutional Property Advisors.

Are you able to travel for basic diligence activities (property tours, market tours, etc.)

COVID-19 Travel basic diligence activities graph

Has your firm put all acquisition activity on hold?

acquisition activity graph

Is your firm delaying dispositions?

delaying dispositions graph

Do you believe that coronavirus related economic impacts will decrease investor demand for multifamily housing in the long-term?

decrease investor demand graph

Would your firm purchase a property with a confirmed case of the coronavirus?

purchase a covid-19 property

Would your firm purchase a property based on a virtual tour?

purchase a property based on a virtual tour graph

What overall levels/movement does your firm expect over the next six months?


Category Significantly Increase Slightly Increase Remain About the Same Slightly Decrease Significantly Decrease
Survey Period March 20 March 20 March 20 March 20 March 20
Rents 0.00% 0.00% 17.02% 65.96% 17.02%
Vacancy 10.87% 47.83% 23.91% 10.87% 6.52%
Concessions 38.30% 53.19% 8.51% 0.00% 0.00%
Permit Activity 0.00% 2.08% 12.50% 29.17% 56.25%
Construction Starts 0.00% 0.00% 12.50% 33.33% 54.17%
Asset Values 0.00% 0.00% 10.42% 77.08% 12.50%
Cap Rates 8.33% 56.25% 25.00% 10.42% 0.00%
Apartment Sales 0.00% 2.13% 8.51% 25.53% 63.83%

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