103 NE 59th St 103 NE 59th St OM - Final | Page 25

APARTMENT MARKET
Rent Growth
Rent Growth by Submarket, $/Month
$6,000.00
SHORT-TERM RENTAL MARKET
OVERVIEW
•
•
•
Short term rentals are an emerging asset
class as part multifamily, part hospitality,
this new real estate asset class has been
created by two massive converging trends.
The trend towards a sharing economy is a
result of a new belief system that favors
experiences over possessions and brands.
The second trend is the emergence of new
technological platforms such as Airbnb,
Uber, VRBO, etc. that allow owners of
assets to maximize income, and open up
new opportunities for users to experience
new neighborhoods with a convenience that
never existed before
$5,000.00
$4,000.00
$3,000.00
$2,000.00
$1,000.00
$-
2012
Brickel l
2013
Downtown
2014
Arts and Entert ainment
2015
Edgewater
2016
Midt own
5 Year Average Rent Growth, 2012-2016, %
16.0 0 %
15.0 0 %
14.0 0 %
13.0 0 %
12.0 0 %
11.0 0 %
10.0 0 %
9.00%
8.00%
103 NE 59TH STREET | OFFERING MEMORANDUM
Brickel l
Downtown
Arts and
Entertainment
Edgewater
Midt own
COLLIERS INTERNATIONAL P. 25