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Special Report

COVID-19 Business Impact & Sentiment Survey Results

May, 2020

In response to the Global Health Crisis, IPA designed a survey to gauge the market sentiment of multifamily owners, operators, and developers throughout the market’s response and recovery from the COVID-19 pandemic.


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?

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Has your firm put all acquisition activity on hold?

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Is your firm delaying dispositions?

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Do you believe that COVID-19 related economic impacts will decrease investor demand for multifamily housing in the long-term?

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

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

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



Category Significant
Increase
Slight
Increase
Minimal/
No Change
Slight
Decrease
Significant
Decrease
March May March May March May March May March May
Rents 0.00% 0.00% 0.00% 5.26% 17.02% 26.32% 65.96% 54.61% 17.02% 13.81%
Vacancy 10.87% 6.71% 47.83% 38.93% 23.91% 28.19% 10.87% 22.15% 6.52% 4.03%
Concessions 38.30% 19.87% 53.19% 60.26% 8.51% 14.57% 0.00% 3.31% 0.00% 1.99%
Permit Activity 0.00% 0.00% 2.08% 2.68% 12.50% 20.81% 29.17% 35.57% 56.25% 40.94%
Construction Starts 0.00% 0.66% 0.00% 0.66% 12.50% 13.91% 33.33% 33.77% 54.17% 50.99%
Asset Values 0.00% 0.00% 0.00% 1.99% 10.42% 13.91% 77.08% 74.83% 12.50% 9.27%
Cap Rates 8.33% 4.61% 56.25% 54.61% 25.00% 28.29% 10.42% 11.18% 0.00% 1.32%
Apartment Sales 0.00% 1.99% 2.13% 5.30% 8.51% 11.26% 25.53% 37.75% 63.83% 43.71%

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