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Article: The Orlando Sentinel, Fla., real estate column.
- Article from:
- The Orlando Sentinel (Orlando, FL)
- Article date:
- September 19, 2005
CopyrightCOPYRIGHT 2005 The Orlando Sentinel. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jack Snyder
Sep. 19--RENTERS WILL FEEL SQUEEZE AS TIGHT MARKET GETS TIGHTER: With few apartment projects on the horizon, look for vacancies to shrink even further and for rents to start zipping upward.
Developers will deliver only 2,100 apartments to the market this year, down 12 percent from last year, according to a recent report from the Orlando office of Marcus & Millichap.
The report forecasts 94 percent occupancy by the end of this year. That's virtually full by industry standards.
Asking rents are projected to climb more than 3 percent this year.
One reason for the crunch is competition for multifamily-zoned land ...