Furnished Rental Housing Sees Increase in Demand
"The corporate-housing market saw a 13% rise, to $3.62 billion, last year, according to the Highland Group. And at least part of that growth is attributable to residential, rather than corporate, renters." --MFE
"Last year, revenue in the corporate-housing market—where apartments are typically leased for at least 30 days—rose 13% to $3.62 billion, according to the Highland Group, a hotel consulting firm that studied the market for the Corporate Housing Providers Association, a trade group. It was the fifth consecutive year of growth.The number of available apartments nationwide offered for long-term corporate rentals, typically in more expensive luxury buildings, rose 6.5% to 71,201 last year. The average daily rate was up 7.3% to $161." --WSJ
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