Boraie Development Shares about the Future of Real Estate Industry in New Jersey

New Jersey remains one of the most popular states in the entire United States of America. Located in the Northeastern and mid-Atlantic region, NJ has continued to attract a huge number of dwellers in the recent past. A significant population prefers the garden state due to a number of reasons including good transport network, breathtaking tourist attractions, elaborate shopping centers, social amenities, and friendly cost of living just to list a few.

According to a publication by Philly Purge, the real estate market in the in New Jersey is expected to experience a further increase in demand. It is reported that the region is a head of several other states when it comes to shares and rates of residential mortgages. The current positive trends in real estate subsector are projected to continue since relevant stakeholders have shown total commitment towards solving shortages, and affordability. Lawrence Yun, Realtor chief economist at the national Realtors, has reportedly emphasized the need to close the gap between housing supply and demand. He further explains that if not taken into deep consideration, demand for residential properties might outdo supply. This might, therefore, result into housing emergency.

A great number of New Jersey towns have seen several game-changing real estate developments with a huge number of residential apartments being constructed recently. Even though house prices have gone up in these towns, residents have a unique access to NJ transit station. This has proved to be a major pull factor for new home buyers. Capital economists have reportedly projected a significant change in the housing market with more properties expected to come to the market shelves. The good news to residents and those planning to relocate to NJ is that mortgage rates are expected to remain relatively low thereby increased mortgage availability. This will equally lead increased housing demand hence good real estate business.

Boraie Development

Headquartered in New Brunswick, New Jersey, Boraie Development is one of the most reputable real estate developers in the region. Serving the property industry for about 20 years now, the firm has delivered various commercial and residential projects through it strategic partnerships with financial institutions, contractors and architects. Other than real estate development, Boraie focuses on property management as well as sales and marketing.

Having registered over $150 million in revenue from selling commercial and residential properties including hotels and hostels, Boraie Development, a privately held company, remains a perfect partner when dealing with any property in New Jersey. Visit the company’s website at boraie.com.

http://www.boraierealty.com/

http://magazine.rutgers.edu/insights/seeing-the-future