Investing In Boston’s “Recession Resistant” Luxury Market | No Time Like the Present
On the heels of over 14,000 new luxury apartments hitting the Boston real estate market over the last 2 years, another 20,000 are projected to roll out between this year (2019) and 2020. More proof the high-end real estate market in and around the city not only isn’t slowing, but continues to thrive despite what pundits have projected the last few years in anticipation of an overdue economic dip.
Add to this, new data out from real estate research firm, CoStar Group, (from their recent Boston Multifamily Market Report Feb’19) predicts if and when the next downturn – or even recession – arises luxury real estate in Boston is poised to remain steady with only a ~1% change in vacancy rates.
So what does this all mean for you? Well, with continued historically low interest rates, rising rent prices – at or exceeding the cost to own – and this proven stability + new inventory in Boston’s luxury real estate sector there’s arguably never been a better time to buy (vs renting) than right now.
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