New York City has fully reopened after the tough restrictions that were implemented during the early days of the pandemic, but does this mean the COVID effect on the city is finally over? 

While many aspects of city life, such as the market for New York apartments for rent, have returned to what we knew and loved pre-COVID, the answer isn’t as simple as a clear-cut ‘yes’ or ‘no.’ Let’s take a closer look.

New York Reopened

The reopening of New York City took place over several months, with various restrictions being eased gradually. One of the most important moves came in March when Mayor Eric Adams announced the end of New York City requirements.

The end of those requirements means students and teachers in public schools no longer need to wear masks, and that patrons of restaurants, gyms, and entertainment venues no longer need to present proof of vaccination. This was good news for some people looking for Manhattan apartments for rent. That said, individual businesses could still choose to continue asking for proof of vaccination.

While many New Yorkers and businesses welcomed the changes, Mayor Adams’ decision did receive some criticism. Brooklyn-based City Council member Chi Ossé has encouraged restaurants to continue asking for vaccination proof. 

Among the others who have expressed their concerns are the city’s public advocate Jumaane Williams, previous De Blasio health adviser Dr. Jay Varma, and Manhattan-based state senator Liz Krueger. The CDC also recommended that everyone aged two and older wear a well-fitting mask when using public transportation.

When he lifted restrictions, the Mayor said that he would reinstate them if there is a sharp increase in the number of COVID cases. Encouragingly, almost 87 percent of adults in NYC are fully vaccinated, while approximately 56 percent of children between 5 and 17 are fully vaccinated.

The positive effects of the reopening of the city can be seen in various aspects, from entertainment venues attracting larger crowds to a noticeable increase in foot traffic. 

New York City apartments for rent and homes for sale are also spending less time on the market and fetching higher prices. Like many areas of Manhattan, Battery Park City property sales have since returned to Pre-COVID numbers.

Not All Clear

While the second quarter of this year has been a relatively good one for Manhattan apartments for rent, restaurants, entertainment venues, gyms, and small businesses around the city so far, it’s evident that we’re not in the clear just yet.

May saw a rise in COVID cases at the city’s public schools. Almost 11,000 students and staff tested positive in one week alone. This was a 10-fold increase in positive tests from the first week of March, which saw slightly more than 1,000 cases. That said, the increase in cases isn’t causing the same level of disruption we saw during the omicron variant in January when record numbers of students were absent from school.

Migration To Florida Increases

This year has also seen an increase in the number of New Yorkers who are swapping the Empire State for Florida, which may help explain why there was an increase in inventory for NYC apartments for rent

In the first four months of this year, 21,546 New Yorkers swapped their driver’s licenses for Florida licenses, which was a 12% increase from the same period last year. 

Despite these factors, New Yorkers remain positive on the whole. We’re not completely rid of the pandemic and its effects, but that light at the end of the tunnel is getting bigger and brighter.

If you’re looking to move back to New York, or want to find a new rental or property to purchase, reach out to Platinum Properties today.