17. 1st Half 2010 Furnished Apartment Market Report Conclusion
The 1st half of 2010 was a positive time for the furnished apartment market in many respects:
- The demand for apartments was increasing
- The number of completed rentals increases
- The average price for apartments and rooms in New York increased
With all of this positive news it looks like the New York furnished apartment market has been revived. Concerns for the future include:
- Recently enacted legislation that will make it more difficult to rent vacation rental apartments in New York beginning in May 2010.
- The continued threat of a double dip recession which would hurt the apartment rental market in New York again
- Constant fluctuations in the currency market which make predicting the demand for apartments in New York difficult because of the high number of international travelers visiting the city
New York Habitat will do its best to provide the latest information about the New York Furnished Apartment Market through this series of reports as well as through the New York Habitat blog.