10 Signs Of The Manhattan Real Estate Comeback

Manhattan Real Estate Final

Photo: Flickr User aturkus (www.flickr.com

The brief days of the Manhattan renter’s market are over, according to Q2 data from Miller Samuel.

The cosmopolitan island, famous during the peak of the credit crisis for its student-friendly rentals and easy market deals for those looking to find a lease or a sublet, is now getting bullish on its real estate outlooks. If you’re looking for a place to stay, don’t expect to find landlords eager for heavy-handed price negotiations in this city.

Although Q2 showed a 3% DECLINE in average rental prices...

Rental price per square foot INCREASED

The time it takes to turn a listing (absorption rate) has dropped significantly

Landlords can now close a rental deal 30 days faster (compared to Q2 2009)

And those sweet discount deals? They're now a scarce commodity

Median home sales prices also took a hike

And if you own a house, you'd also be making more money from renting it out

Getting an apartment with a doorman costs a surging 69% more

If you're a landlord, your best bet is a 1 bedroom rental on the East Side

And if you're a renter prowling a cheap find, your best bet is an Uptown studio

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.