The rental market has seen a favorable period for tenants over the past two years due to a surge in apartment construction, leading to lower rents and enticing perks from landlords. However, as construction slows and costs rise, the situation is set to change, with predictions indicating a tighter rental market by 2026. Although developers will deliver around half a million new units this year, a downturn in new projects signifies an approaching shift in rental dynamics, as demand for apartments continues to outstrip supply.
With so many shiny high-rises hitting the market, landlords are fighting to fill their spaces, offering major discounts and perks to lure tenants.
The available inventory of rental housing units may quickly tighten, says a recent report from RealPage.
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