12-05-2011
Bejing: large increases mirroring Asia trend… Rents increased by 5% in 2010 from the year before in Beijing, boosted by high demand and a strong currency. This is typical of the Asian market, where rents have increased by 7% in the last year.
New York: stability at last… Manhattan’s rental market appears to have stabilized. Overall prices were up approximately 0.47% in March with the largest rent increases seen in studio units in both non-doorman and doorman buildings. The increase was approximately 2.21%. Vacancy numbers are down compared to January and February of this year, non-doorman units fell by approximately 0.79%, while doorman units were down 3.4%.
London: rents up and expected to stay that way… 41% of landlords plan to raise rents in 2011, with 55% planning to keep the rent the same for their properties and a mere 4% cutting rents. Landlords know that the lack of finance available in the UK mortgage market means that potential buyers are opting to rent instead.
