Manhattan Rental Market Overview

“We have just released” Says Dottie Herman, CEO of  Prudential Douglas Elliman. “The Douglas Elliman Report: Manhattan Rentals 2Q 2011″, the most comprehensive analysis of the Manhattan rental market.  The first of its kind, this report provides new insights into the largest form of housing in Manhattan.  Our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available”.

She also says “The amount of new rental activity has been significantly higher compared to last year. The landlords continued to reduce their reliance on concessions to manage occupancy. Rental rates after considering concessions were higher than last year at this time, and the time to lease an apartment fell sharply. As the regional economy shows modest but slowly improving conditions, the economy will also face many challenges. We will continue to look toward the rental market as a leading indicator for housing, and we anticipate modest improvement in the rental market for the remainder of 2011″.

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