Why are Americans moving?

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Investors eye healthcare real estate as top choice for capital deployment link

• Demographics and rising demand for healthcare services are key drivers for healthcare real estate growth. Population increases in Sun Belt metros are especially bolstering the sector's appeal.

• Despite 950,000 healthcare jobs added last quarter, the sector faces persistent labor shortages. Healthcare services accounted for 40% of total job creation in the past year, highlighting its economic significance.

• Investors are prioritizing medical office spaces due to their strong performance and high demand. With significant capital waiting to be deployed, healthcare real estate is set to remain a top investment focus.

Why are Americans moving? link

• Family connections drove 30% of moves, with affordability and lower taxes influencing decisions particularly in the South and West. Only 37% considered job location a key factor in their move, highlighting a shift in priorities post-pandemic.

• Outdoor space was a primary motivator for 46% of movers in the Midwest, while the Northeast and West focused on square footage and commute improvement. Safety and low crime were important for 16% of respondents across all regions.

• Most movers in the Northeast stayed within the state, while those in the South and West were more likely to relocate out of state. Nearly 18% returned to a previous residence area, especially in the Midwest and West.

Zumper’s national rent report for November ’24 link

• The median rent for one-bedroom apartments remained steady at $1,534, while two-bedroom rents fell by 0.4% to $1,902. This stability signals the start of the slow rental season.

• National rents are expected to continue modest declines into early 2025, reflecting seasonal trends and cooling demand. Renters might find better deals as the market softens.

• The report includes data from the top 100 metro areas, emphasizing a wide variation in rental trends across cities. Smaller markets could see even more noticeable shifts.

AION, Goldman Sachs Partner on Workforce Housing link

• AION and partners recapitalized a $700-million portfolio covering 3,962 workforce housing units across New Jersey, Pennsylvania, Delaware, Maryland, and Virginia. The initiative targets stabilized properties and affordable multifamily housing solutions.

• The joint venture aims to acquire $1 billion in value-add multifamily assets and create 4,000 to 6,000 additional units. This plan is supported by a $300-million equity commitment.

• The funding involves a 49% contribution from a global institutional investor and 51% from AION’s Value Add III fund. Goldman Sachs Alternatives will participate in the fund’s first closing in late 2024.

U.S. investors pour €200M into Spain’s housing and healthcare sectors amid rising demand

• SPHERE Investments plans to invest €200 million in Spain over the next two years, focusing on senior housing, healthcare centers, and medical properties. The investment aligns with rising demand from Spain's aging population and healthcare system evolution.

• Spain's housing shortage is acute, with developers like Banco Santander investing €365 million to build 1,350 residential units in cities like Madrid, Seville, and Barcelona. This reflects strong investor confidence in both residential and healthcare real estate.

• Spaniards now need an average of 7.3 years of income to afford a home, driven by rising unaffordability since the pandemic. Similar trends in the U.S., Canada, and France indicate continued growth in multifamily rent demand.

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