What To Expect In Hudson County This Year

What To Expect In Hudson County This Year

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I've found a great article that elaborates on what we can expect from the New Jersey real estate market in 2016. There have been conflicting reports in the media due to the recent increase in interest rates, but some local experts weigh in on what to expect and you might be surprised at what you hear. 


You can read the entire article here, or you can read some of my takeaways from the article below. 


Hudson County is looking to perform much better than expected in 2016. Harrison is expected to be one of the state's most coveted areas for commuting workers in the Northeast Corridor due to Newark's commercial boom. 


Areas like Asbury Park are also expected to take major steps in 2016. With the right combination of commercial and mixed-use areas, as well as the hotel development, this area should be booming by the end of 2016. 


W. Nevins McCann of Connell Foley LLP says that our robust state incentives will draw a lot of commercial businesses to the area this year. The savings here compared to NYC are just too good to pass up. Despite the looming rise in interest rates, multifamily will not slow down, as demand will be driven by millennials who are more inclined to rent than to buy. 


As you can see, we're set for a dynamic year in real estate. If you need help navigating the market this year, please don't hesitate to reach out to me!

Patrick Southern Headshot
Phone: 201-232-3381
Dated: January 15th 2016
Views: 457
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