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Workforce Housing Gaining Foreign Capital Interest

12/06/2018 | World Property Journal
According to new market research from CBRE, strong market fundamentals are attracting a wide variety of investors to workforce housing, creating good returns and helping to preserve affordable accommodation in lower-income communities.

Workforce housing--rental communities that are affordable for low- to median-income workers--has outperformed the overall multifamily market for the past four years, with relatively low vacancy rates and above-average rent growth. Slow wage growth over the past decade contributing to a high number of potential renters, an extreme lack of new supply, and limited alternative options means strong and sustained demand for workforce housing apartments is expected to continue in 2019.