MIAMI—President-elect Donald Trump is predicting his policies could increase GDP to 3.5% to 4%. If he's right, that would create more jobs—and more demand in the multifamily market. Florida would be a key beneficiary, with its strong population growth.

In any case, KC Sanjay, chief real estate economist for Axiometrics, an apartment market and student housing research and analysis, does not expect the Trump presidency to cause any negative impact to the commercial and residential real estate markets in the Southeast and Florida. However, he said, he expects a slight deceleration in fundamental metrics and total returns, which will bring us back to a more sustainable level of growth after a period of accelerated growth since the Great Recession ended.

“Current job growth in Florida markets is robust, and it is expected to continue through 2017,” Sanjay tells GlobeSt.com. “Apartment fundamentals and total returns have outperformed other property types in Florida this year, and that also is expected to continue next year.”

Longer-term, however, Sanjay says industrial product types are expected to assume the lead in Florida markets once the Panama Canal's impact starts to take hold. The office sector is lagging right now in the Southeast and Florida, but it is expected to gradually pick up in the next couple of years.

“We expect the pace and magnitude of the Federal Funds Rate to pick up next year,” Sanjay says. “This is expected to increase 10-year T-Bill, yet have a very little impact to commercial and residential real estate cap rates. Investor demand for commercial and residential properties remain positive in the Southeast and Florida markets, keeping the markets stable.”

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How Trump Presidency Could Impact Multifamily Market

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