Real estate prices in New York have shot through the roof, and real estate brokers/developers in New York City are taking notice of these high prices. Developers will make quite a lot of money when they are selling or developing real estate, but these developers know that affordability in the city will become quite a problem for denizens of New York if this trend continues.
#1: Luxury Daily Reports The Story
Luxury Daily first came out with the report on rising NYC apartments for sale prices. The report states the facts as they are today, and the report shows that some real estate developers are not very concerned about these figures. TOWN Residential is on such developer.
#2: TOWN Residential Says This Is Not A Trend
TOWN Residential believes that real estate prices in New York will not continue to rise at such an incredible rate. A spokesman for the company says that the higher prices in the city will help developers maintain high prices, but TOWN does not believe this is a larger trend that will make real estate in the city too expensive for people to afford.
#3: TOWN Residential Publishes The Aggregate
The Aggregate is a report that shows real estate figures from all over the city. TOWN is invested heavily in many different parts of New York, and the city is a playland where they do work with development and home sales. Their own magazine does not believe that New York real estate prices will get out of hand, and TOWN will stay the course as prices stabilize at a very high rate.
#4: There Was A Small Fall
There was a small fall in prices in New York City in the third quarter of 2015, but this is no cause for concern. Analysts at TOWN Residential believe that they will see real estate prices rise back to previous levels. Development in the city will help keep those prices as high as possible. The lack of a trend makes the New York real estate market makes investors safer, and luxury developers like TOWN Residential still have an affordable market to work in.
There are many reasons that real estate prices are high in New York, and high prices are not a surprise. The developers in the city see this as a plateau that will help maintain high prices, and these developers will make money without losing investors.