Baby Boomers And Luxury Markets Remain Important In New York Real Estate
The New York Daily News has recently published its real estate predictions for 2016, and reveals high numbers of baby boomers returning to the city and luxury property sales are key areas of growth in the coming months. A number of factors look set to combine in 2016 to create problems in some areas of the markets, but other areas will remain successful as economic problems do not tend to affect these greatly.
Town Residential is one of the real estate companies looking to retain their success and build for the future in 2016, which will see the many different areas the company works in become an important aspect of their success. Town has a range of agents specializing in both the sales and rentals markets across almost every borough of New York City apartments for rent.
Town Residential is the latest venture from founder and CEO Andrew Heiberger who has found success with his earlier entries into the real estate markets of New York City. The success of Town is often reported to be made possible by the innovative management team the company has put into place that allows support from experienced real estate professionals to be available to all Town representatives.
Baby boomers look set to provide a major area of growth as they seek a return to New York City after their family lives draw to a close; the number of baby boomers looking to return to areas in Manhattan and Brooklyn will increase by a large amount from 2016 onwards. Location will be an important part of the movement of baby boomers who will be attracted to the rental opportunities and introductory rates in this up and coming area.
Luxury property buyers at all levels will also see themselves ignore the rising interest rates expected in 2016 to remain a strong market for properties priced above $10 million. The most expensive properties in New York and entry level luxury properties priced between $1 million and $3 million will both remain vibrant markets for real estate professionals across New York City.