According to the report made by Austin American-Statesman, almost 10,000 new apartments have been built it Austin last year and additional 8,000 units will be available for rent this 2015. With this bulk of real estate properties, experts shared different views regarding the possible rental rate for 2015.
The president of CMR, Charles Heismath, believed that rental rates will not increase since occupancy rates dropped to 94%. However, two firms namely Berkadia and Marcus and Millichap agreed that rental rates will increment by 4.5%. Their assumption was based on how people patronize the newly built apartments in Austin last year.
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