Estimates are estimates - they are educated guesses without any kind of commitment to their accuracy.Estimates do not take into account human nature or latest political events or economic situation (local or international) - so they canu2019t be the concrete foundation on which you can build your research without specifying that they are, in fact, estimates.When weu2019re talking about a close proximity to NYC, with Brooklyn and Queens (not even mentioning Manhattan here) is out of price range for many buyers, the only other place left is Staten Island.The human nature in question are bidding wars, where the asking price is not a point for negotiations, but a starting point where the bidding starts.And then the question is - whether the estimates are true based on historic trends or whether you are looking for the explanation of future fluctuations.If weu2019re talking about foreigners looking to invest into properties, and with China clamming down on the export of funds, there is more rush to invest elsewhere (and invest fast, at almost any cost), plus the recent currency situation in India would push more people to acquire things of value overseas to preserve their wealth.