What is the meaning of the word "vacancy rate"?
Understanding vacancy rates is crucial for investors, property managers, and policymakers as it helps them make informed decisions regarding property investments, rental pricing strategies, and housing policies.
Definitions:
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A numerical value that represents the proportion of all available units or spaces that are vacant or unoccupied in a given property, group of properties, or area at a particular time.
NOUN
- The vacancy rate in industrial parks is often seen as a barometer for the health of the manufacturing sector in the region.
- The vacancy rate in industrial parks is often seen as a barometer for the health of the manufacturing sector in the region.
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Commonly used in real estate to assess the performance of rental properties, commercial spaces, or housing markets. NOUN
- A surge in new construction has led to an increased vacancy rate in the apartment market, giving potential renters more options to choose from.
- A surge in new construction has led to an increased vacancy rate in the apartment market, giving potential renters more options to choose from.
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Typically expressed as a percentage. NOUN
- The property management company reported a vacancy rate of only 2% across their residential properties, signaling strong demand and effective management.
- The property management company reported a vacancy rate of only 2% across their residential properties, signaling strong demand and effective management.