Beacon Hill real estate market is seeing another demand-side factor disappear – international students. The data shows international student permit holders admitted, made a sharp decline in Q2 2020. The decline will continue into the fall, or drop further, as the government warns students may not be admitted due to the pandemic. Americal typically has hundreds of thousands of international students, which applies demand pressures on housing. With their extended absence, hundreds of thousands of apartments will be sitting empty throughout the country.
In Beacon Hill, in late July we have 278 Beacon Hill apartments for rent starting September 1, 2020
What’s Happening, And How This Impacts Beacon Hill Apartment Rental Market
Canada has warned international students they may not be admitted into the country. Instead, the government is suggesting international students prepare for online lessons. Under the current travel ban, valid study permits may be denied entry, unless they can prove the travel is non-discretionary. Instead, the government will apply online hours towards a work permit upon graduation. The government isn’t just telling people they can’t come, they are incentivizing study abroad. All of this can have a big impact on the Boston real estate market.
The Loss of International Students to Beacon Hill
Every year the USA accepts hundreds of thousands of international students, creating demand for housing. This means the students are a demand-side factor for a number of a large number of downtown Boston neighborhoods.
Boston’s warmer at this time of year usually begins a strong interest in Beacon Hill apartments and condos. The period starting with spring and going into summer is referred to as “the real estate season” in the industry. But COVID-19 (Coronavirus) is changing the seasonal trends, forcing people into isolation, and drastically shifting renters’ priorities.
Beacon Hill Apartment Search Google Trends
I recently looked at Google Trends as well as traffic behavior on our website since the Coronavirus outbreak. The results:
Beacon Hill Apartment Search traffic dropped by 25% in one week
Looking at the traffic the numbers drastically dropped by approximately 25% compared to the previous week, a stark contrast to what a typical traffic season would be during this time of year.
It’s no doubt that the pandemic has already put the brakes on Beacon Hill apartment and condo searches as renters/buyers are trying to figure things out. Here at Ford Realty, we’re still showing apartments, but only if they’re vacant. In the past. we’ve had renters lease out apartments by just viewing pictures or via YouTube videos.
My name is John Ford the owner of Ford Realty. Please feel free to contact me and I can explain how I can save you money on renting a Beacon Hill apartment. My cell/text is 617-595-3712. My email is realtyford@yahoo.com.
View Beacon Hill Apartments for rent – Updated in real-time
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third-party sources, including sellers, lessors, landlords, and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, noncommercial use of consumers having a good faith interest in purchasing, leasing, or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
Beacon Hill apartments for rent $10K and under
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