Increased demand for larger apartments to accommodate working from home is already evident in NYC, where the inventory of units with two or more bedrooms has seen a sharper decline compared to smaller units. With working from home set to stay even as COVID-19 restrictions are eased, we expect the demand for larger apartments will persist. That will require a reversal of the downward trend in apartment size, which in turn means that rent per square foot and capital values are set to fall back from 2025.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.