Apartment & Condominium Construction in the US
Over the five years to 2016, the Apartment and Condominium Construction industry has experienced one of the fastest expansions within the construction sector. Decreasing vacancy rates over the time period, along with increase investment in residential construction, has facilitated growth in multifamily complex starts. In the five years to 2021, a slower level of growth will be due to higher rental vacancy rates and significant improvements in the general economy, which encourages consumers to purchase houses. In addition, revenue will grow at a slower rate due to a surplus of projects in certain key markets. However, continued migration of the US population toward metropolitan areas will still generate strong demand for industry services over the period.
This industry is composed of general contractors responsible for constructing new multifamily residential units, including high-rise apartments, townhouses, condominiums and medium-to-high density units (i.e. units not separated by a ground-to-roof wall). All of the complexes may be constructed for sale as condominiums or cooperatives, or used as rental apartments. This industry does not include speculative builders or contractors who build on their own account for sale.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.