Before we get into the meat of this article, reread the title and think about what your answer is. Do you have plans to buy additional furnished executive apartments? Maybe you’re already in the process of doing so, or you want to wait a little while to see what happens with the economy after COVID-19. All of these are solid answers since everyone has different needs.
When looking at the CHBO Corporate Housing Real Estate Report, you can get an idea of how other owners of furnished executive apartments are feeling about the current climate. You can access this report from your dashboard on CHBO, as well as reports from years past. While you may not want to base your buying decision on this data, knowing what others are doing can never hurt.
So what are other people planning? We can look at the most recent report to see survey results from 2019. You’ll notice right away that 15% of people are already working to acquire additional real estate, and another 24% plan to acquire more furnished executive apartments within two to three years. Five percent more are planning to make a purchase but want to wait at least three years to do so.
Some people aren’t quite sure yet, which may be similar to 2020 with all the things going on around us. In 2019, 22% indicated they were unsure about a purchase in the future, while 22% said they might or might not buy. An additional 8% reported that they would rely on the economy to decide what to do in the future.
Of course, some people aren’t planning a new purchase anytime in the future. This made up about 13% of the responses in 2019, which is smaller than most other categories available. It just goes to show that most people enjoy owning furnished executive apartments and would be open to having more of them for rent.
While coronavirus may be making things complicated right now, many people will likely continue to enjoy their business offering executive condos, homes, and other properties. Whether you plan to buy a new property soon, in the future, or aren’t quite sure yet, you’re in good company. You can learn more about how the corporate housing industry is going by checking out the rest of our report.
For all inquires, please contact:
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- Annual Corporate Report: Outlook on Profitability.
- Would You Be Interested in CHBO Booking a Property on Your Behalf and Handling the Whole Transaction?