2007 has been an interesting year, laws regarding short-term rentals in New York City continue to toughen and our legal team has worked to ensure that all of our new apartments meet the revised requirements.
New York, NY (PRWEB) February 5, 2008
New York Habitat releases its 2007 Furnished Apartment Rental Market Report. This market report covers both the 2nd half and full year data from 2005, 2006 and 2007 in the furnished rentals, vacation rentals and roommate share real estate markets. The results give an impression of what has been happening in the market and the New York Habitat team makes some forecasts about what to expect in 2008 based on today's market conditions.
The report finds that prices in the New York City Market are seeing smaller increases than in previous years related to a sagging economy, but travelers from other countries around the world, especially Europeans, are finding New York a relative bargain because of the weak U.S. dollar. The report also finds that New York Habitat's clients have chosen to look farther from the typical central Manhattan locations in order to find reasonably priced accommodations including Brooklyn, Queens and Harlem, which in some cases, have seen more than 200% increases in the number of rental since 2005. The report can be found on New York Habitat's Furnished Apartment Market Reports website.
For additional perspective on the market, founder Marie-Reine Jezequel says, "2007 has been an interesting year, laws regarding short-term rentals in New York City continue to toughen and our legal team has worked to ensure that all of our new apartments meet the revised requirements." She goes on to say that, "for 2008 we will continue our push to offer the best alternative accommodation options in New York City." Visit the New York Apartment Search to view all apartment listings in New York.
The report is comprised of three sections which cover New York Habitat's primary business segments:
· Vacation rental accommodations (from 3 to 30 days)
· Furnished apartment rentals (from 1 month to indefinitely)
· Roommate share accommodations (from two weeks to indefinitely)
For each division, New York Habitat analyses length of stay trends, apartment types booked, neighborhoods rented, average price ranges and more in Mahattan, Brooklyn and Queens. All of the data is supplemented with graphs and analyses. To find out about the 1st half of 2007 read the 2007 1st half New York furnished apartment market report.
To give an idea of what is contained in the report we present the average prices for vacation rentals in 2005, 2006 and 2007 below. The report includes more detailed graphs about this and many other subjects.
New York Habitat expects to release the 1st half 2008 results in July 2008 so make certain to check back then for the latest New York market update. They goal is to provide timely information to apartment owners, renters, vacationers and others interested in the New York Real Estate market. After over 19 years in the market, we intend to be your most trusted source for furnished apartment market news.
New York Habitat is a fully licensed residential real estate agency with 19 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 on two continents and a team of experienced multi-lingual agents. New York Habitat strives to offer the best selection of apartment rentals in the market and offers thousands of accommodation options.
If you have any questions about the report or need more information regarding any of the data or analysis, feel free to contact the New York Habitat Market Report Team. To view previous reports visit the Furnished Apartment Rental Market website of New York Habitat. Also, for more information on real estate markets in all of New York Habitat's cities as well as neighborhood guides, visit The New York Habitat Blog for the most up-to-date news.