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Williamsburg Home Prices Are On the Rise

NEW YORK CITY-So says a new report, which declares that the area's popularity is likely to continue soaring.

By Rayna Katz | Updated on May 23, 2013

NEW YORK CITY-Investors who fear that rents in the ultra-hip and trendy Williamsburg, Brooklyn have topped out will be pleasantly surprised by this one. A new report from the Marketing Directors future rental and sale trends in the area indicates that prices are on the rise and new condominium developments can achieve over $ 1,100-per-square-foot, provided they are efficiently sized and have quality finishes, a comprehensive amenity program and proper promotional support.

“Renters are definitely willing to pay more for the right type of apartment,” says Jackie Urgo, president of the Marketing Directors. “Inventory will remain scarce and the neighborhood will continue to be a desirable place to live with its easy accessibility to Manhattan and trendy restaurants and boutiques.”

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