Apartment & Condominium Construction in New York
Over the five years to 2017, the Apartment and Condominium Construction industry in New York is expected to grow amid a generally improving economy and a red-hot real estate market in the New York City area, where multifamily units are ubiquitous. Underpinning revenue growth during the current period are marked improvements in the residential market in New York, declining unemployment, rising median household incomes and, ironically, political gridlock. Moving forward, industry operators will need to remain careful not to overbuild lest market saturation drives down new unit prices, and thus profit margins, which remain modest. Overall, however, industry revenue growth is expected to accelerate over the five years to 2022.
This industry is composed of general contractors responsible for constructing new multifamily residential units, including high-rise apartments, townhouses, condominiums and medium- to high-density units (i.e. units not separated by a ground-to-roof wall). All complexes may be constructed for sale as condominiums and cooperatives or used as rental apartments. This industry does not include speculative builders or contractors who build on their own account for sale.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook