Earlier, we learned about 2008 first half New York’s Furnished Apartment Market Reports.
2008 was one of the most volatile years in the New York furnished apartment market making the 2008 Furnished Apartment Market Report all the more valuable. This report, the 4th in our series, details the market conditions in the 2nd half of 2008 as well as details for the full year.
The report looks at key points in the market in 2008 versus results from 2006 and 2007. Furthermore, the report makes predictions about 2009. The following are some key trends seen throughout the report:
• A strong 1st half but a much weaker 2nd half for all of the segments of the New York market
• Prices stabilizing with lower rates of increase in average rental rates and signs that prices may decline in 2009
• A weak outlook for 2009 with the entire world in a deep recession
To see all apartment listings throughout New York City visit : The New York Vacation Rental search, The New York Furnished Rentals search and The New York Apartment Share search.
This report as well as all of the previous market reports for New York can be found at the New York Furnished Apartment Market Report webpage. Look back to this site in July for the 1st half 2009 market report to see if markets have begun to rebound or if conditions still are weakening.
The report is produced to help you know more about the New York furnished apartment market. If you have any questions, suggestions or recommendations please comment below or e-mail us at marketreport@nyhabtiat.com.
If you are looking for a furnished apartment in New York feel free to contact our team. They can help you to find the perfect accommodation to meet the needs of any trip to New York.
Previous market report blog articles:
• New York Furnished Apartment Market Report: 2007 1st half
• New York Furnished Apartment Market Report: 2007 2nd half and full year
• New York Furnished Apartment Market Report 2008 1st half
Now we will read about New York Furnished Apartment Market Report in the 1st half of 2009.
The Furnished Apartments Market really fluctuated in 2008. It is definitely evident that the economy is in a down time right now, but that is not stopping the market from succeeding. Rentals in Uptown New York were a lot higher becuase it is becoming more known that it is a great part of the city and still a short commute into Midtown. There is a beautiful park and a lot of Hispanic culture and it is really a fun part of the city to be in.
Being a owner and having my apartment listed with New York Habitat for a long time now (almost 8 years). I can really say that the market has changed dramatically over the last 9 months. You can see in this market report that the inquires for vacation rentals have decreased a lot. However, I had my apartment rented out for each period my place was available thanks to New York Habitat’s great team!!!!!
Being an owner, I definitely noticed my apartments being rented out substantially less at different points of the year, but knowing how the economy was I just had to lower my price to fit the updated expectations. Now, I have my apartments rented at nearly all times and I know that New York Habitat is working hard to continue this trend.
How interesting…it is hard to believe we are in a recession with New York rents the way they are, but the bubble was about to burst sometime, the best news is even if it looks grim now it can only pick back up soon.
This is a great info about Furnished Rental apartment in New York City!!! So useful I love it