April 30, 2017
May 1, 2017
Investors are likely to buy and sell a lot more apartment properties as spring turns to summer in New York City.
“Now that the uncertainty has subsided and 10-year yields have come down, we expect to see a sharp pickup in activity,” said Shimon Shkury, president and founder of Ariel Property Advisors.
Investors bought and sold just $1.6 billion in apartment properties in the first quarter 2017, down 60% from the year before, and the lowest volume since the first quarter of 2013. That’s even steeper than the slowdown in property sales that Ariel charted in February.
Uncertainly over policy matters, like interest rates, weighed on property sales just after the presidential election, said Shkury.
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