New research from Parks Associates indicates high-tech amenities like broadband, security, and energy controls positively influence the sale and rental of multifamily properties in the U.S. Multifamily Residences: Opportunities for Digital Systems and Services, a new primary research project of executives managing multifamily properties in the U.S., found nearly 50% are seeking new electronic products and services that will differentiate their properties in an increasingly competitive market. In particular, in-unit broadband service is becoming a ¡°must-have¡± feature, with 60% of multifamily units offering some form of high-speed Internet. Security systems and monitoring services, electronic locks, and energy/utility management systems are also becoming more common in order to increase the speed of sale or rental of a Multiple Dwelling Unit (MDU) property. ¡°The multifamily market is a huge opportunity for service providers and electronic systems manufacturers, especially as the industry faces a troubled economy and restricted spending,¡± said Bill Ablondi, Director, Home Systems Research, Parks Associates. ¡°New multifamily construction will account for more than one-third of all new housing starts in 2009, up from less than 20% in 2005. Managers are competing to attract tech-savvy Gen Y renters, and technological amenities are proven assets in differentiating properties.¡±
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