Empira Group attended the National Multifamily Housing Council's Apartment Strategies Conference in San Diego, California
We caught up with Branko Kuzmanović, Director of Acquisitions, for market observations and highlights from NMHC’s annual conference:
➡ Industry leaders including institutional investors, lenders and brokers expressed significant market optimism despite challenges that are continuing to affect the real estate industry. The energy and excitement around investing in multifamily assets is palpable compared to 2023.
➡ Fundamental demand for apartments is strong and should remain strong in 2024 as occupancy, absorption and rent growth remain robust.
➡ While new construction has slowed down considerably, projects that are able to get off the ground will benefit and face limited competition in the next few years.
➡ There is still a significant bid-ask gap between buyers and sellers, yet investors are much more eager to do transactions this year.
We look forward to attending again next year!