CEO/Broker/Owner of PreReal, Prendamano Real Estate Inc. in Bulls Head, James Prendamano, spoke with Tracey Porpora from the Staten Island Advance to share some of his thoughts about the influx of investors into the real estate market on Staten Island.
The real estate market in Staten Island is thriving, with prices increasing significantly over the last few years. This is due in part to the influx of investors who are attracted to the borough’s more affordable prices. Buyers are now looking for homes with outdoor space and garages, as well as home offices, due to the increasing number of people working from home. The pandemic has also caused many people to accelerate their plans to move out of state. All of these factors have contributed to the Staten Island real estate market remaining strong, even in the midst of a pandemic.
As Staten Island’s housing market becomes increasingly more affordable, investors are taking note of the borough for its investment potential. James Prendamano, broker/CEO/owner of PreReal, Prendamano Real Estate Inc. in Bulls Head says that “Investors are attracted to Staten Island, because it remains affordable in comparison to other boroughs, and it bears mentioning that Staten Island real estate has proven to be some of the absolute most resilient real estate options for investors throughout multiple market iterations in recent past.”
“The 2008 crash, Superstorm Sandy, and now COVID have taught us if you are looking for resilient property values, Staten Island has to be at the top of the list,” he added.
To read the full article By Tracey Porpora | porpora@siadvance.com –Click Here
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