The interest of Italian investors in NY real estate properties

The interest of Italian investors in NY real estate properties

The neighbourhoods Italian property buyers think are more attractive

The Italian investors’ demand for apartments in New York has increased considerably despite the crisis. Real estate agents are using virtual tools to allow potential buyers see the properties for sale before an on-site visit. Italian investors have never stopped buying in New York, but the demand has completely changed in the latest two years.

Luxury condos in the Upper Side are not as tempting as they were in the past. Buyers prefer smaller buildings in Downtown or Midtown without porter, pool or gymnasium and with low condominium expenses and therefore offering appealing rental yields. The Financial District offers advantageous investment opportunities. The market is driven by young people here, since their parents usually buy real estate properties for them.

More and more families are opting for buying a flat in New York due to the worrying European economic crisis. These families usually prefer buying in the West Village, in Soho and in the Meat Packing District. Columbia University students also choose to live in the West part as there is the subway to the University.

Italian under 40s look for apartments located in Union Square, Chelsea – that hosts art galleries in townhouses and extraordinary lofts – Gramercy Park, Nolita, Soho, Noho and Tribeca. The supply is very limited in the West Village; consequently, prices can reach 30 thousand dollars per square metre. Superior Ink is a very longed for condo, but apartments are very expensive. Apartments on the Hudson River are cheaper but very noisy.

The Financial District supplies competitive investment opportunities: many buildings have come back to the market with appealing prices and a 10-year tax abatement. Low prices are attracting investment capitals.

At Midtown, apartments cost between 12 and 13 thousand dollars per square metre, but prices can be up to 20 thousand dollars for a property overlooking Central Park.

Foreign investors play a leading role in the development of the real estate market in the United States of America. The National Association of Realtors revealed that most investors come from Canada, China and Mexico.

The government is thinking about the possibility to give a “Green Card” to overseas investors willing to invest at least 500 thousand dollars in the USA, allowing them to reside in the country for non-working purposes.

Read also:

Related Insights

  •  
    American real estate market: the Big Apple is always at the top

    American real estate market: the Big Apple is always at the top The most famous city in the world, the most populated in the USA, known as a global city, New York has been for years and continues to be the American dream par excellence. With all its districts (Manhattan, The Bronx, Queens, Bro ...

  •  
    New York: a new amazing residential skyscraper

    New York: a new amazing residential skyscraper The highest residential building in the Western hemisphere is being built in New York When you go to New York for the first time, you feel like you’re entering in an otherworldly dimension, especially if you live in a small village with low-rise b ...

  •  
    Central Park: from a health concern to a luxury place of residence

    Central Park: from a health concern to a luxury place of residence A Central Park view makes the value of a property increase by 25-50 % Central Park – the famous public park at the centre of Manhattan, New York City – opened in 1857 on an 843-acre city-owned land. The notion of park views did ...

  •  
    Pre-war luxury in New York

    Pre-war luxury in New York The ageless charm of 630 and 640 Park Avenue When it comes to luxury real estate properties New York, large modern lofts at the top of high-rise buildings with great views over the city skyline is probably what you’ll think about immediately. Well, actually you’ll ...

  •  
    The interest of Italian investors in NY real estate properties

    The interest of Italian investors in NY real estate properties The neighbourhoods Italian property buyers think are more attractive The Italian investors’ demand for apartments in New York has increased considerably despite the crisis. Real estate agents are using virtual tools to allow potent ...

  •  
    Bargains at Mott Haven

    Bargains at Mott Haven Plenty of affordable investment opportunities available in the neighbourhood The look of lots around Mott Haven –located between the Harlem River and the Bruckner Expressway south of East 149th Street, South Bronx – has changed a lot since the 1960s and 1970s. some of th ...

  •  
    A pet as a co-tenant

    A pet as a co-tenant Having a pet is not a privilege of people living in large houses with gardens Is having a pet a privilege of people living in roomy houses with large gardens on the outskirts of a town? Of course not! If you live in a small flat in a big city, you can surely share it with ...

Real Estate Listings

Cod. 35025

For sale 2 Bedrooms, New York, New York County, New York City, Manhattan

427,720.50USD
For sale
2 Bedrooms

53 m²
Bright Apartment for Sale, placed on one of the most charming streets of NYC just one block from Broadway, on the island of Manhattan. Apartment co...
Cod. 25719

For sale Loft-Open Space, New York, Manhattan, Manhattan, 438-448 West 37 th Street

2,851,470.00USD
For sale
Loft-Open Space

180 m²
Manhattan (only 15min walking distance from Times Square, 5min walking distance to Hudson Yards) Lovely loft for sale in need of refurbishment – 1...
Cod. 25548

For sale 2 Bedrooms, New York, New York County, New York City, 120 Riverside Blvd.

2,550,000.00USD
For sale
2 Bedrooms

118.45 m²
Trump Place is considered by most, as one of the top full service condo buildings in Lincoln Square. Our 2-bedroom 2-full bath penthouse unit is situa...
Cod. 23441

For sale 2 Bedrooms, New York, Manhattan, Midtown Center, 100 west 58 street manhattan new york

Reserved negotiation
For sale
2 Bedrooms

102.19 m²
This remarkable custom renovated luxurious corner two bedrooms / two baths home is unlike any other, offering East and South Exposure. The entire spac...
Cod. 20790

For sale Farmland, New York, Chemung County, Elmira, 514 Oak street, Elmira, NY

Reserved negotiation
For sale
Farmland

0.28 m²
Residential Vacant Land                    514 Oak street, Elmira, NY                    size of 3,375 sqft
Cod. 20726

For sale 3 Bedrooms, New York, New York County, New York City, East 72 street

679,000.00USD
For sale
3 Bedrooms

44.41 m²
BEAUTIFUL HIGH FLOOR RIVER/CITY VIEWS! Luxury Full Service building. This fabulous Condominium, high floor city and river views from oversized windows...
Cod. 20257

For sale Other (Commercial), New York, New York County, New York City, Manhattan

1,500,000.00USD
For sale
Other (Commercial)

92.9 m²
Homes are selling agent specializing in Manhattan, USA. Call or write will help, from beginning to end. Great investment and very (TAX) advantageous...
805 Second Ave, New York, NY 10017 Manhattan, the intersection of 2nd Avenue and 43rd Street
Cod. 16772

For sale Loft-Open Space, New York, New York County, New York City, 1 Main St

23,500,000.00USD
For sale
Loft-Open Space

650.32 m²
A spectacular, one of a kind approximately 7,000 square foot three story Penthouse plus 400 sq. ft. private interior and exterior roof deck in the fam...
2005-2022 REALIGRO REAL ESTATE LTD. All Rights Reserved - VAT Nr: 893969932
Neikos Digital Agency
  1. Preferences

    For a better use of Realigro website, set your preferences for language, currency, square meters or sq ft.

    Set now Don't show again
BB