Higher Floors and Exclusive Amenities Drive Up Apartment Prices Dramatically
The study looked at what makes new apartment prices go up. They used a math model to analyze factors like floor level, apartment size, location, and submarket features. They found that higher floors and more exclusive space make prices go up. Also, bigger apartments with room to expand saw bigger price increases. Apartments with nice views, in densely built areas, and in places where secondhand prices are rising also had higher premiums. This means that factors like where an apartment is located and its features can affect how much it costs.