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It is no denying that New York Real Estate landscape has experienced tremendous development in the recent years. According to StreetEasy’s research data, the Real Estate investments are the fastest growing industry in New York for the last seven years. It attracts investments from both international and the locals, and the trend is expected to rise in the forthcoming years. Most homes in Manhattan can be described as NYC luxury real estate. This is because their asking prices are higher than the average sales in the previous years.
Renting houses in Manhattan is increasingly becoming expensive. This is a fact that may weigh down on the affordability of the houses in the near future. Alan Lightfeldt, the data scientists of StreetEasy Research, associates the increased renting prices with the high number of residents moving to New York. In a report released by Luxury Daily, Alan added that, when a town is faced with overcrowding, the chances of rent increment and housing competition double. For instance, in Manhattan the median rent prices have grown by 1.5 percent across the board. Previously the increment of the rent prices was driven by a 10.6 percent rise for a one-bedroom unit from the previous year’s prices. According to Alan, if New Yorkers must lower their housing burden, they must focus on East and South of Brooklyn and other unpopulated streets in Manhattan. He predicts that the renting prices of both Brooklyn and Manhattan are expected to rise for as long as more residents settle in the two towns.
Town Residential is a real estate firm that deals with luxury residential leasing and sales, marketing and sales of real estate properties. Joseph Sitt and Andrew Heiberger founded the firm. Town Residential is an integral investment that has contributed to the ‘beautification’ of New York’s real estate landscape. It comes a savior to residents in Manhattan ahead of the rising costs ofhousing. The firm has network of representative offices in Manhattan and Brooklyn.
Recently, it launched its Lifestyle magazine that provides a detailed inside view of New York Real estate market. Town residential is set to open its tenth office in Manhattan at Meatpacking district. The firm boasts of a reliably solid team of professionals who are at the center of the firm’s high quality services. They poses unrivaled industry experience and employ handcraft approaches in sales and marketing of their properties in both on and offline platforms.