Investors snap up old flats - Business - News & Observer: "The average vacancy rate at apartments built in the past five years jumped to 9.5 percent in January, from 7.7 percent a year earlier, according to Real Data, a Charlotte apartment research firm. Average monthly rent, meanwhile, fell 5.4 percent to $888 per unit.
Apartments that are 16 to 30 years old, however, saw the average climb to just 7.5 from 6 percent. At the same time, rents have dipped just 1.3 percent to $690."
Thursday, March 19, 2009
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