The 2009 Furnished Apartment Market Report Released for New York City

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New York Habitat, one of the premiere providers of furnished apartments, vacation rentals and rooms to rent, is proud to release the 6th bi-annual report on the New York furnished apartment market. The report details the effects of the economic turmoil in 2009 on the market for apartment rentals in New York and looks forward to trends expected in 2010.

New York Furnished Apartment Market Report 2009

2009 was a challenging year for the market, not only were prices falling but the number of people looking for apartments in New York was declining.

New York Habitat continues to offer the latest coverage of the New York Furnished Apartment market by releasing the 2009 2nd half and full year Furnished Apartment Rental Market Report. The report details the activities in the furnished apartment market including vacation rentals and rooms for rent in New York. With 2009 experiencing a severe recession around the world, this report brings to light the area where there are the best chances to make a profit in the market as well as the best opportunities for deals.

Overall, the New York apartment market saw declining prices and fewer rentals in 2010, but as the year came to an end, the declines in the number of bookings began to fall as owners wisely lowered prices to make their properties more attractive. 2009 will be remembered as a correction year in the New York Real Estate market. As a whole, prices dropped to levels often not seen in 5 or more years, which helped to reattract people to New York. Property owners who were not willing to offer discounts quickly saw that properties with 2008 prices were not renting easily. The full New York Furnished Apartment Market Report can be found on New York Habitat’s Furnished Apartment Market website.

New York Habitat’s business focuses on three niche markets in the New York real estate market that include:

Vacation Rentals: 2 days to 1 month
Furnished Apartments: 1 month and longer
Rooms for Rent: 1 month and longer

In the report, there is a detailed section about each of the company’s market segments. The report covers details about pricing, neighborhoods, size of properties and lengths of stay. The report provides complete data and analysis for the 2nd half of 2009 and full year 2009. For comparative purposes, data from 2007 and 2008 is included in the report. For information on the 1st half of 2009 or previous years, visit the New York Furnished Apartment Market Report website.

New York Habitat analyst and market report creator Brian Lowenberg says, ”2009 was a challenging year for the market, not only were prices falling but the number of people looking for apartments in New York was declining.” He goes on to say, “As prices fell, and the economy stabilized in the second half of 2009, people began to return to New York slowly but the effects of the recession still could be seen.”

Now with over 6 years worth of research and analysis provided in the New York Market Reports, the furnished apartment market report is a must have resource for apartment owners, visitors to New York and others interested in the New York New York Real Estate Market, New York Habitat will continue to provide the latest details about the New York Furnished Apartment market as it happens. For the latest information, visit the New York Habitat blog which is updated several times per week.

New York Habitat is a fully licensed residential real estate agency with 20 years experience in the furnished rental market in New York. The company also offers furnished accommodations in Paris, London and the South of France. The company's expertise is in serving the needs of clientele from around the world via offices in Europe and America. Additionally, our core competencies include a multi-lingual staff and a team that is up to date on the latest market trends. New York Habitat strives to offer the best selection of apartment rentals in the market and offers thousands of accommodation options. To search our apartments in New York, visit our New York apartment page.

Feel free to contact New York Habitat with any questions and comments about the report at marketreport(at)nyhabitat(dot)com. To view previous reports visit the Furnished Apartment Rental Market website of New York Habitat. Remember to check this website in August 2010 for the next update on the New York Furnished Apartment Market Report.

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Brian Lowenberg
New York Habitat
1 (212) 255-8018 ext. 142
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