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Boston Luxury Apartments Dominate Market

- Credit: Boston Herald

"Real estate in Greater Boston this year has been somewhat of a paradox." - Boston Herald

Although there has been an obscene expansion in the luxury apartment market, there has been a shortage of inventory of mid-priced properties, and sales have slowed. In fact, there has been such a boom in luxury apartments that they have been driving the average middle class Bostonian out of Boston and into its surrounding areas.

The Boston Herald notes, "looking for rental relief, some have opted to lease in places like Chelsea, where One North over the Mystic Bridge and new apartments in the Box District have done well. In an industrial area of Everett, apartments were carved out of a former Charleston Chew candy factory."

We are hopeful that this trend will be stopped in 2015 and a boom in apartments - even luxury apartments - with lowered rents will occur.