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May 21, 2015

Tech Reshapes Property Marketing

Money continues to flow into real estate tech firms. In 2014, venture-capital investments in real-estate technologies globally quadrupled from the prior year to roughly $680 million. And the U.S.’s dominance in technology puts it at the head of the real-estate tech world, as Europe plays catch up.

This evolving tech landscape’s effect on property marketing is being felt broadly across the U.S. real estate industry. Media stories continue to capture how the commercial and for-sale and for-rent residential sectors are adapting the tools to their needs. For example, commercial real estate firms are now tapping Instagram to market their properties. Moreover, the Realtors are spearheading efforts to allow real estate firms to use drones to capture aerial views of property listings.

In the multifamily industry, apartment hunters now have a variety of online and mobile technologies to provide them with up-to-the-minute information about apartment features, availability and pricing. This is empowering apartment renters, allowing them to find an apartment, sign a lease and even wiggle out of one much more easily.

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Top News

CYBERSECURITY

As REITs Expand, Threat of Data Security Breaches Becomes Concern

Much of the conversation regarding cyberattacks has focused on the retail industry. The looming cyber-security threat, however, is not limited to industries with a point-of-sale component. REITs in particular should take a step back to analyze the risk. Find more information on NMHC’s data security page.

SUSTAINABILITY

Looking to Rent Energy-Efficient Housing?

Recognizing that improving energy efficiency in the rental stock was key to reaching municipal sustainability goals, 14 college towns banded together to create a website that shows people what they would pay in utilities for various rental properties.

REGULATIONS

Highly Restrictive Land-Use Regulations Limit Economic Growth

Hitting similar notes as this post from last year, a new study calculates that the United States economy would be nearly 10 percent bigger if just three cities — New York, San Jose and San Francisco — had loosened their constraints on the supply of housing and let more people in during the past few decades.

LEADERSHIP

The 2015 Harvard Journal of Real Estate Focuses on Innovation in Practice

Eleven authors from real estate programs at Harvard University investigate a range of subjects under the umbrella of innovative practice, including opportunistic investment strategies, creative financing mechanisms, progressive public policy and unique approaches to real estate development. Experts in those fields respond. A must read is The Bozzuto Group’s Toby Bozzuto’s article on the artist developer.
In Case You Missed It
A hand-selected collection of noteworthy articles on a wide variety of issues of interest to apartment executives.
Gen X and Millennials Are Choosing to Remain Renters

First Crowdfunded Real Estate Project Paying Off

Washington, D.C., Joins LA, Philly in Considering Converting Downtown Offices to Apartments

Blackstone Fund Offloads U.S. Apartment Portfolio for over $650M

Regulations, Delays Add 40% to Housing Costs in San Diego, Study Finds

Developers, City Hope Tiny Apartments Will Keep Families in Boston

Blog: Please Tell Me You Accept Online Lease Payments

What Happens to Cities When Millennials Have Babies and the Suburbs Beckon?

Single-Family Rental Firms Consolidate and Buy in Bulk

New York Mayor Aims to Keep More Units Rent Stabilized

Green Financing Leader Fannie Mae Announces Green Rewards for Multifamily

Top 3 Most Outrageous Student Housing Amenities

America’s Most Pet-Friendly Rental Markets

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A must-read for top apartment industry professionals, Apartment Wire is a timely review of emerging trends in apartment finance, development, management and technology and more, featuring both exclusive content from NMHC's staff of experts and provocative articles from across the web.
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THIS MONTH

2015 NMHC Emerging Leaders Speaker Series – Houston, TX

May 28, 2015
Hanover Post Oak in Houston, TX

SEPTEMBER

2015 NMHC Fall Board of Directors and Advisory Committee Meeting

September 15 - 17, 2015
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2015 NMHC Emerging Leaders Speaker Series – Washington, DC
September 15, 2015

Washington, DC

2015 NMHC Student Housing Conference & Exposition

September 28 - 30, 2015
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Multifamily Market Dashboard

Walkable Properties Have Higher Returns

An increasing share of new apartment construction has focused on urban infill and suburban town center (or so-called “urban suburban”) areas, as developers recognize the greater increased popularity of such locations. New data suggests that such properties also have substantially greater price appreciation.

Real Capital Analytics recently combined its commercial property price indices with Walk Score indices, which measure the “walkability” of different property locations, to better quantify the connection.

Properties in highly walkable central business districts (CBDs) have appreciated 173 percent since December 2000, compared with 110 percent for highly walkable suburbs, 65 percent for somewhat walkable suburbs and 49 percent for car-dependent suburbs. Properties in the latter two categories are 11 percent and 7 percent below their pre-recession peaks, respectively, while properties in the first two categories are 39 percent and 6 percent higher.

The gains from walkability are stronger for apartments than for other real estate sectors. The premium for CBD locations is significant across all sectors but is highest for apartments. Similarly, the advantage.


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