New York City Furnished Apartment Market Report - 1st Half 2008
New York Vacation Rental Apartments
Vacation Accommodations rented by Neighborhood for the 1st half of 2008
Upper West Side 10%
Upper East Side 7%
Tribeca / Financial District 3%
East Village / Lower East Side 18%
Midtown West / Chelsea 32%
Greenwich Village / Soho 9%
Midtown East 5%
Neighborhood is one of the most important factors customers think about when booking a vaca- tion rental in New York. The graph above shows that the most popular neighborhoods are Midtown West / Chelsea and the East Village. Part of the reason for the popularity in these neighborhoods is the amount of vacation rental apartments available in these areas. Other neighborhoods located nearby including Midtown East and Greenwich Village, which are often highly requested, have fewer bookings because of a lower inventory of apartments.
An interesting trend continues to be that people are considering Brooklyn and Uptown because:
New York Habitat has worked to increase our inventory of apartments in these neighborhoods
The prices in these neighborhoods can often be less expensive than in Central Manhattan
Rentals in Uptown and Brooklyn now make up more than 15% of total rentals compared with just over 5% in the 1st half of 2006.
Section I: New York Vacation Rental Apartments
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