Apartment rentals New York with Rental Market

April Brings More Record-Breaking Rentals

Mon, 05/21/2012 - 16:56

Without surprise, market reports released early in May revealed that Manhattan’s apartment rental rates are staying above pre-recession levels as they continued to climb throughout the month of April. As Luxury Rentals Manhattan has continuously reported, New York's lack of available rental units is the primary cause of these skyrocketing rates.

Tags:

Virtual Real Estate: Why Real Estate is Dependent Upon Social Media

Wed, 05/02/2012 - 20:10

LRMFacebookNew York City’s rental market moves at a rapid place, and to keep up with its ever-changing conditions, the Internet is necessary. Social media websites provide users with platforms to interact with others in the market, and quickly become informed about the latest property news, listings, and transactions. Here at Luxury Rentals Manhattan, we realize that our readers utilize social media regularly, so we have recently launched our very own Facebook page.

Tags:

Housing Market Index Promising For National and Manhattan Rental Market

Fri, 03/16/2012 - 16:24

The National AssociNew construction in Manhattanation of Home Builders, in conjunction with Wells Fargo, released their monthly Housing Market Index last month, and the report, which gauges builder confidence in the housing market nationwide, provided some promising new information. Nationally, builder confidence in new construction is higher than it has been since before the market crash, and while the index number is still relatively low—standing in February at 29—it is on a consistently upward trajectory, and is now the highest it has been since May 2007. While the report does not touch on individual markets, it does imply good news for builders and renters of apartments in Manhattan.

Tags:

Manhattan Rental Inventory Could Increase By Late 2013

Wed, 02/08/2012 - 22:10

The WindermereWe’ve already written extensively about scarcity in the rental inventory in Manhattan. A lack of available apartments will be one of the dominant themes of 2012, mostly due to economic uncertainty. The current economic climate has had the dual effect of preventing developers from constructing new buildings, and pushing people who would otherwise buy condos into the rental market. Yesterday the Wall Street Journal published figures that quantify the market’s scarcity. There will be roughly 2,230 apartments for rent in Manhattan that will go on the market this year, the lowest amount since 2005, when the figure was first counted. And the vacancy rate for all luxury rentals in Manhattan is 1.27%.

Tags:

December Market Report: the Market Goes Home For Christmas

Thu, 01/12/2012 - 19:58

The MNS rental market report for December 2012 is out, and with it come the kinds of numbers we expect to see in the winter months. You may remember from last month that prices hadn’t fallen in November nearly as far as real estate insiders generally expect them to. Part of the reason for this was extremely low inventory, which MNS, in addition to several key real estate industry forecasters, predicts will not change in 2012. But movement did slow down in December as people hunkered in for the holidays, and the numbers show a slight decline.  Throughout Manhattan, average prices for all luxury apartments for rent went down 1% from November rates. Certain Manhattan neighborhoods saw relatively large declines, while others showed very little. Still more neighborhoods saw increases in price, but by lower average numbers than the declines were. That said, prices in December 2011 are on average 8.4% higher than they were in December 2010, suggesting that the rental market overall is stronger than it was a year ago.

Tags:

November Market Report: The Holiday Season Dash

Tue, 12/06/2011 - 20:05

We expect the real estate marketRental market numbers decreased less than normal in November to slow down during the holiday season. Realtors plan for it. The November and December markets are often the lowest of the year, with prices shooting back up by the first quarter of the new year. But last month’s rental market report tells a different story. November rental prices were indeed down from the previous month, but by a number smaller than anyone would have guessed. And average prices in all Manhattan rental markets in November were considerably higher than they were at the same time last year. People want to rent in Manhattan, it seems, and they’re willing to pay dearly for the privilege.

Tags:

Luxury Rentals Market Cools Down a Few Degrees

Thu, 07/14/2011 - 20:22
Luxury Manhattan Apartments - Rental Market Cools Down
Last week, Citi Habitats and Prudential Douglas Elliman released a second quarter report claiming that the Manhattan rental market was on fire, and things weren’t going to cool off any time soon. Rent prices were supposedly at an all-time high and weren’t expected to drop in the near future. This was music to every Manhattan landlord’s ears, but a punch in the gut (or wallet) to everyone searching for a luxury rental in Manhattan. However, a more in-depth look at the aggregate rent paid each quarter dating back to 1991 shows that the peak in the luxury rental market actually already occurred.

Tags:

RSS Feed (for personal use only, unless other specific permission is granted)