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In contrast, the report said, rental demand continued to rise.
With so many families displaced from their homes by foreclosure, rental demand is rising.
He said: "Investors will buy investment properties for as long as there is a rental demand".
In the first quarter we estimate rental demand was down about 25percentt.
Talk to local letting agents about rental demand in your chosen area.
The upturn in the rental market makes sense, he said, because mortgage rates and rental demand correlate almost directly.
Similar(17)
But the fact that Manchester has the second biggest student population in the world – estimated in the region of 90,000 and growing – means that rental demands are present.
Furthermore, some of the hottest areas of Brooklyn are seeing a wave of construction and conversions on the horizon to meet increased rental demands.
The consumer of condos and high-end rentals demand the same product in terms of amenities, finishes, size, etc., and now developers are building rentals that cater to their demand and rival their luxury condo predecessors.
Rents have been rising consistently as rental home demand keeps growing.
Even outside of the new rentals, the demand is still being met -- condo owners are creating their own luxury rental market.
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