State of San Diego’s Multifamily Market Event Recap
October 19th, 2016 / San Diego
The Bisnow State of San Diego’s Multifamily Market is where industry leaders meet to discuss new developments and the investment cycle in one of the West Coast’s most challenging markets. Rhonda Slavik recently participated on The Development Panel and here are some of the key takeaways.
It’s actually a great time to be in condo sales on the West Coast due to the extremely high demand and low inventory. Although, developers are being more cautious than ever in finding new sites due to a rise in land and labor costs. Overseas investors have helped to inflate land prices, making it difficult to project final development pricing. The pace of new-build apartments is far ahead of condominiums with only 400 residences underway in the San Diego market. There is an inventory desert, if developers can find a way to build, demand is inevitable.