NYC – Every year brings with it new trends and changes in the real estate market, and 2015 is projected to be no different. Robert Khodadadian and the rest of the team at Skyline Properties are excited about brokering new deals in the coming months, but first we’re here to tell you some of the trends you can expect to emerge within the next year and beyond.
In New York City, there are a few trends to watch out for. One that is already taking shape is the pattern of condo developers are bringing a slew of boutique buildings to the city. Many people see boutique buildings as the latest luxury, and several of them are already set to open in 2015. Several of these buildings will also be leaner and more efficient, offering smaller square footage for a high price.
Many analysts are predicting that the price of luxury properties will continue to rise, as it did in 2014. In fact, the average sale price in Manhattan rose almost 20% from the third quarter of last year. While some experts believe these prices will stabilize, others say they will continue to climb.
And while interest rates are currently at a record low, in Manhattan they are set to rise in 2015. This is leading to people rushing to make deals now, rather than wait until later in the year. They are hoping to capitalize on current, low rates before they begin to increase.
These are just a few of the trends related to luxury properties in Manhattan that you can expect to develop in the next year. For more news about Manhattan real estate and the deals we are brokering, keep checking back with Skyline Properties.