Buying in a new development can be very profitable. Anyone who bought during the last development boom has nearly doubled his or her investment.
The development boom is cyclical. Old buildings are torn down to build new modern structures. The cycle usually runs every 10 years.
New York City and the outer-boroughs are seeing another building boom. The last boom was in 2007, which came to an abrupt halt with the crash of 2009 when condo projects stalled and/or turned rental. Now, we are seeing a switch back to condos with land prices rising and buyer demand surging due to interest rates relatively low and rental rates rising. Buyers are flooding the market and developers have taken note.
In the next few years, you will see a supply of new condo developments hitting the market. If you missed out on the last condo boom, don’t miss out on this one. Everyone has a friend, or two, that bought during the last boom and have resold their condo to net double what they paid for it; especially in the Brooklyn and Queens market.
Brooklyn has become a household name and brand. Manhattanites and investors alike are flocking to the outer borough for more space in cool neighborhoods. With many buyers getting out priced in Manhattan, buyers are heading to Brooklyn and Queens, hence the uptick in resale prices.
The push to the outer-boroughs will continue for many years to come. The InHouse Group has a proven track record of customers who have nearly doubled their money on their resale. It is time to REPEAT the process.
If you want to learn more about our SELL PROFIT BUY REPEAT program contact Robert @ The InHouse Group.
The InList brings you the newest developments on the market and tips and trends on where the highest returns are hiding.
Article New Developments
building boom Buy Profit Sell Repeat condo the inhouse group Williamsburg