Cost of rent at Manhattan grew in October, Bloomberg informs. And this is the second month of growth, which was surprising for landlords observing weakening sales at city’s real estate market.

Average rent gained 2,8% compared with last year to $3495. Along with similar rise in September this is the largest growth since December 2015. It seems that potential buyers of houses prefer renting in expectations of prices falling even lower. Landlords continue attracting clients by gym membership, paying brokerage fees and other incentives, while sellers resist to reduce prices.

However, not everything so shiny for landlords today. There is an obvious supply surplus at apartments market, this is why the share of apartments rented with incentives grows 41 months in a row.

Renting ads stayed for 29 days on the market in October, compared with 44 days last year. New leases grew by 5,7% to 4842.