With apartment and condos on the rise, and buyers and renters in New York City in decline, more and more developers and landlords are offering incentives to prospective clients. This is flipping the real estate market in rare favor of the buyers/renters.
Certain factors are playing key points in the market shift including surging supply, an absorption slowdown, incentives influx, price reduction, and the pursual of brokers. The Real Deal spoke to Mirador Real Estate Agent Neeta Mulgaokar about buyer/renter incentives saying, “the incentives are making and breaking deals when people are comparing apples to apples.” For more information on the factors influencing the changing real estate market in New York City, read the full article here.