The New York real estate market broke records for sales and volume in 2015, and the city seems to be growing even into 2016. Anyone looking for a place to live in the city will pay higher prices, and there are more opportunities for companies like TOWN Residential to create new developments. This article explores how companies like TOWN Residential are responding to a rising real estate market in New York going into 2016.
#1: Every Record Was Broken
Several real estate brokers have noted that every previous record was broken during the 2015 fiscal year. The real estate market in 2015 exploded with foreign investment, more new homeowners and a range of developments created by companies like TOWN Residential. The records all fell at a time when prices were at their highest, and the market created many new developments to help invigorate the city.
#2: TOWN Residential Helps Residents And Developers
The development projects from TOWN Residential are funded by foreign and domestic investors, and TOWN even has an office in London. The company has focused quite a bit on balancing its activities, and the company has spent time working with new homeowners who were in need places to live. The catalog held by TOWN Residential ranges from quaint townhomes in Brooklyn to gorgeous apartments in Manhattan.
#3: More Development Is Coming
TOWN Residential is working on new development projects that are slated for different parts of the city, and their company has invested quite a lot of money in getting these projects off the ground. The developments are typically multi-use projects that will combine living spaces with retail or commercial spaces. The diverse nature of the work coming from TOWN Residential simply makes the city a more attractive place to live.
#4: New Developments Will Force Prices Higher
New developments on-tap for 2016 will help prices rise even higher in 2016. It is conceivable that the market in 2016 could be even stronger than the market in 2015, and the records that were broken recently may only stand for a year. Real estate developers and brokers are bracing for a very strong 2016 that could lead to a breath of fresh air for the city and new investors.
The records broken in 2016 were shattered by a market that was flush with cash and high prices. Those records may not last long as 2016 proves to have just as much potential.