– Housing prices in Queens are forecasted to rise faster than any other borough.
– Queens’ real estate market has seen significant growth, typically outpacing comparable neighborhoods in Manhattan and Brooklyn in 2023.
– The report highlights several factors driving the Queens real estate boom.
– Rapid development in the borough
– Increased demand for residential spaces outside Manhattan
– Improvements in transportation connectivity to Manhattan and other boroughs
– Specific neighborhoods, such as Astoria and Long Island City, are leading the charge in price appreciation.
– The report also notes that the growth trend in Queens is expected to continue over the next few years.
Queens – The New Real Estate Queen of NYC
Real Estate Ascendancy, Led by Astoria and Long Island City
Booming Borough – Factors Driving the Queens Real Estate Boom
And now for my sassy, hot take: Who wouldn’t want to be a queen, right? Queens is living up to its regal name as it strides atop the throne of real estate growth within New York City. Its heir apparent? Manhattan. Time was when Brooklyn and Manhattan were battling it out for the crown. But now, the spotlight has swiveled to Queens. The real estate Cinderella has found its glass slipper, leading the borough-bopping tale with Astoria and Long Island City as its charming princes. And why, you might ask? Well, looks like everyone prefers a bit of elbow room, improved commute, and yes, less dent in the wallet! So, long live the queen, Queens! Watching this transformation is a bit like high stakes Monopoly, only this time, Queens is passing ‘Go’ and it’s collecting $200 faster than any other player. Watch out NYC, there’s a new queen ruling the real estate scene, and she doesn’t look like she’s ready to abdicate the throne anytime soon! So, polish off those crowns, folks, because it’s time for a royal celebration! Who knows, your next castle might just be in Queens.
Original article: https://www.inman.com/2024/01/11/queens-is-poised-to-unseat-brooklyn-as-hottest-nyc-borough/
