Colliers Report: Multifamily growth is modest
August 21, 2021
Commercial Real Estate Research & Forecast Report
Market Highlights
Over the past year, there have been 477 units completed. Annual inventory growth averaged 1.3% over the past five years. Most of the construction was concentrated within the Central and East submarkets.
Click here to read the full report.
Key Takeaways
- 477 units were completed over the past year
- 319 units will deliver in 2022
- Rental rates continue to increase quarter-over-quarter
Summary
Due to affordable single-tenant housing, growth is expected to be slower through year-end with only 319 units currently under construction. Rental rates have increased by over 10% in the past year and will likely increase with ongoing steady demand.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.
