NEW YORK, Oct. 25 (Xinhua) -- A record-high share of rent cuts contributed to a Manhattan median asking rent of 2,990 U.S. dollars in the third quarter of 2020, the first time this figure has been below 3,000 dollars in nine years, according to industry leader StreetEasy's Q3 2020 Market Reports issued recently.
The share of Manhattan rental listings on StreetEasy that was discounted during the third quarter rose 22.7 percentage points year over year to a record high of 44.7 percent, as landlords made attempts to attract tenants amid a rental market that has struggled considerably since the coronavirus pandemic hit the city seven months ago.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
