Orlando Poised for Strong Multi-Housing Recovery, CBRE Predicts

ORLANDO, FL--CB Richard Ellis presents its newest Multi-Housing Market Trends Report for the Orlando MSA.


While 2009 was a challenging year for the national and local multi-housing market, there were signs of improvement heading into 2010.

Orlando is forecast to gain 8,000 new jobs by year end, and more than 161,000 jobs over the next five years.

 Rents, which have declined on a year-over- year basis for the last three years, will hold steady in 2010, and are forecast to show significant improvement thereafter increasing 13.3% by 2014.

With no new supply in the pipeline and job growth expected again this year, Orlando seems poised to see one of the strongest recoveries in the country.

Following are the executive summary trends and forecast. Please refer to the following pages for more detail on the Orlando market.

Orlando Operational Trends and Forecast:

•Average rents declined from $842 per month to $815 (2009 Jan-Dec)
•Average occupancy declined from 91.9% to 90.1%
•Occupancy held steady in the second half of the year
•The biggest occupancy loss occurred in the 1Qtr of 2009
•Concessions remain prevalent in most submarkets, but declined in the 3rd and 4th Qtr
•The condo shadow market has largely been absorbed and is stabilized from a rental basis
•Occupancy is forecast to increase 1% this year to 91.1%
•Occupancy is projected to increase from 90.1% to 94.9% by 2013 (MPF Research)
•Rents are projected to increase from $815 to $923 by 2014 (MPF Research)
•Several submarkets are projected to outperform the MSA: Altamonte Springs/Longwood, East Orange County, North/East Seminole County, Southwest Orange County, and Winter Springs

For a complete copy of the report, please contact:

Shelton D. Granade, (top right photo) Senior Vice President, 407.839.3103, shelton.granade@cbre.com
Luke Wickham, (middle left photo) Director of Operations, 407.839.3130, Luke.wickham@cbre.com