RCA in the commercial property press:

Lack of New Development in Boston: Good for Multifamily Investors, Bad for Renters

Boston Herald reports: With a strong increase in local jobs forecast and a very limited number of units coming online over the next year or so, a recent article in the Boston Herald stated that its hometown rental market is poised for a banner year of activity and growth. Yet for renters themselves, this confluence of trends will mean asking rents may climb to historic highs this year, especially in already pricy neighborhoods such as Back Bay, Beacon Hill, and Midtown.

The supply-side may take years to reestablish, as Real Capital Analytics’ Managing Director Dan Fasulo explained to the Herald, “This lack of supply of apartments in Boston during the past five years has been constrained by high building costs and a lack of buildable sites.” He did not see much improvement in the situation over the next couple of years.

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Posted by: Nina Turner

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