Outside Manhattan, plenty of real estate opportunity
There are areas outside of Manhattan that could be big contenders for real estate glory, offering ample opportunities for renters and buyers alike. (Even in - gasp! - New Jersey.)
A slew of new inventory is poised to hit the market in this hipster haven, real estate experts said. This nabe may help make up for a lack of new apartments and development projects in Manhattan.
This popular Brooklyn neighborhood continues to be a hot market. Most real estate reports indicate that prices are on the rise here as demand for housing in the area increases.
Citi Habitats President Gary Malin said that this Queens neighborhood has been gaining in popularity as more people flock to it to take advantage of rental prices that are on average 35% lower than in Manhattan. Plus, an increase in new development is adding to its housing stock.
It's all about the lifestyle here. Many buildings offer amenities and apartment finishes similar to what you would find in Manhattan - but for a lower price. Renting in full-service buildings with stainless steel appliances can cost less in Jersey City than similar places across the Hudson. Some waterfront property in Jersey City doesn't even come close to what it would cost in Battery Park City.