The real estate industry in New York as for a long time has been a dynamic one. The year 2016 is no different from the other years which have been marked with changes in the industry. There are specific expectations in the sector this year, and some of them are already starting to take effect. Among the big expectations are those of the major real estate companies shifting the macroeconomic climate. This is as a result of the higher interest rates and the turbulence in the stock exchange.
Topping the list of the expectations is that the interests are going to rise which will after that lead to a reduction in prices. Luxury condos are going to be more innovated and sold in Manhattan. More buildings are also expected to hit the market. Real estate companies such as Town Residential Company are further supposed to make a remarkable influence on the actual estate industry. This is basing o their massive investment in new ways of capturing the buyers liking. The building of condos and residential houses need style. town residential real estate company considers using stylish ways of building to stay ahead of the big competition that was earlier expected and has now been realized.
A lot of new rentals are expected to come into Brooklyn. This factor is numbing the nerves of any real estate companies who have no other way of quitting the competition. Few of the companies who have better pricing techniques like Town Residential are likely to survive this storm. Many people are now weighing between buying or renting houses in Brooklyn. This factor has been brought by the vast number of rental houses being built.
The other prediction that has been made by the real estate gurus in New York is the growth in the gap between realistic and non-realistic sellers. The industry is going to be marked by sellers who strive to earn reasonable profits from their sales and those that set prices basing on demand. Luxury condos have always been sold in a peculiar manner. The pricing of luxury condos has never been reasonable, but predictions have it that they are going to sell cheaply.