Month: April 2017

Construction helps ease rents

Rents reportedly continue to fall according to StreetEasy’s Q1 2017 Real Estate Market Report.  According to StreetEasy’s chief economist, rents continue a downward trend due to the “surge in new construction, particularly from the higher end of the market.” While renters may breath a sigh of relief for the time being, many won’t take much solace since this little downturn that StreetEasy sees is coming off record-breaking rental rates from just a few months ago. Head over to their blog for an interactive map of rents (and sales). StreetEasy Price...

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Chinese buyers staying close to home

  Hong Kong will be the destination of choice for Mainlanders parking their money in Real Estate.  Colliers International reported that while the Chinese spent $5.7 billion in investments in NYC last year, the Mainlanders invested nearly the same in Hong Kong at $5.3 billion in 2016. Colliers notes that this growth rate, coupled with the island’s proximity to the mainland along with “a stable legal and political environment and potential for property price growth.” The report does not note that investments in NYC would decrease, however.  We’ll be keeping an eye on this as 2017 rolls to a...

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