Price Appreciation in Brooklyn Neighborhoods?
Hi all,
I am currently looking into purchasing a 1BR condo for my first home. As someone who is still getting familiarized with the Brooklyn market, I'd love for any thoughts on good neighborhoods in Brooklyn for future price appreciation?
To be more specific, I've looked at properties in the Park Slope / Prospect Heights areas and really liked them. I've also looked at places in PLG/Prospect Park South, where the new buildings are way nicer but the area itself seems less developed.
I'm curious if you all think one neighborhood would yield a better investment over the next ~5 years? Obviously the lower starting prices in the latter areas potentially give it a natural edge, but not sure if the PLG/Prospect Park South neighborhoods are still a whiles away from meaningful price growth. Put another way, I'd be willing to pay more for a similar unit in Park Slope if the % price appreciation would outpace that of PLG.
Thank you in advance for your thoughts!