What Is To Be Expected In The New York Real Estate Market In 2016?

As the year begins many real estate clients are looking forward to either sell, buy, rent or lease a house the New York’s luxurious real estate market. Everyone who wants to deal in real estate property this year has to be able to anticipate the market changes and tactical moves that will give the best prices for the best real estates whether they are buying or selling. In real estate business timing is the key.

Town Residential is a New York City-based real estate firm that has a reputation for luxurious real estates. They buy, sell, lease and rent luxurious real estate property both commercial and retail in New York City. Brooklyn and Manhattan, real estate properties, have been the most sort properties for many years and actually have been used to study the whole market.

Town Residential being one the biggest firms in the real estate market of New York City has released its market predictions for the year 2016. Their statistics are regarded as highly accurate as they have some of the best brain in the real estate industry at their disposal. The professionals in Town Residential came up with the following statistics.
From their market analysis, interest rates for real estate property in New York city is set to rise slowly leading to a slow reduction in prices. The experts in real estate at Town Residential predict that this year will offer a tougher challenge to real estate agents to close down on real estate deals. Despite this deals will still be closed and property bought and rented.

The also claim that this year buyers will take a longer time to make decisions on purchasing of real estate properties. This will lead to a slow selling pace in the market. The drift between realistic and unrealistic sellers in the real estate market will grow bigger.

Location of the real estate property will also big a big persuader to clients. The impact of a baby boomer in the real estate market will continue to manifest. More so some buyers will prefer new rental buildings that incentives rather than those that lack them. Lastly luxurious condos will continue witnessing a rise in price, especially in Manhattan.

Leave a Reply

Your email address will not be published. Required fields are marked *