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The Federal Reserve's move to quickly hike interest rates this year has injected a heavy dose of uncertainty into one of the most reliable commercial real estate investments over the past decade: multifamily.
Colliers' Jorg Mast says when inflationary pressures subside and interest rates settle down, DFW will continue to claim its place as one of the busiest multifamily markets in the country.
Area rents will rise by almost 12% in the coming 12 months, according to new forecast.
Plano has the highest area apartment rents, and head to Fort Worth for the best deals.
The COVID-19 crisis has certainly had a heavy impact on many sectors of the economy; however, the multifamily sector still has had a triumphant year.
Nationwide, 63% of apartment renters report getting concessions. The most popular giveaways include free months or weeks of rent, waived or reduced deposits, gift cards and free parking.
Another big decline in office space occupancy in the fourth quarter caused Dallas-Fort Worth net leasing to decline almost 4 million square feet for all of 2020.
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