Self-Storage REIT Report – 2nd Quarter 2023

August 28, 2023

The ever-evolving self-storage sector has experienced healthy performance over the past several years due to an increase in demand and only moderate amounts of new product coming to market. Self-storage properties performed remarkably well over the past 24 months with properties showing rapid gains in occupancy and rents. Despite the recent slowdown, rental rates and vacancies are expected to remain stable as the self-storage sector returns to seasonality in line with historical performance. Provided that market fundamentals remain strong and emerging technological advancements meet changing consumer demand, the self-storage market continues to be well poised for future growth.

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