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, Brooklyn and Staten Island) it attracts every year thousands of investors eager to buy a property in New York.
The statue of freedom, the freedom tower, the Brooklyn Bridge are just some of the places most visited by tourists. New York continues to be an ethnic conglomerate that increases its trend of purchases and leases every year in all its neighborhoods.
According to data recorded in the research called "Winning in Growth Cities" The New York real estate market remains the world's largest, with an unstoppable trading dynamic.
Investors have increased the concentration of their savings in the brick, causing an annual growth of 18 %.
To increase this value is very important the intervention of foreign buyers.
Who are the main investors in New York bricks and mortar?
In first place is Asia, with real estate transactions that reach 53% of total annual investments.
But the city is also particularly chosen as a place to buy a second home from Europeans and Russians.
The total number of transactions is exorbitant: about 1,350 billion dollars.
What type of property should I buy?
First of all, you have to choose the area you want to live in first.
Since this is an investment of a certain depth, we must also analyze the economic potential arising from the monetary return in case of resale.
If it is the first investment, it is advisable to choose (with regard to a lease) an area in which to find hypothetical future roommates, with whom to share the costs of rent.
The areas in growth and more affordable for sales contracts are the 'Harlem and Inwood.
You do not reach very high figures but there will certainly be an economic return that will amortize the expenses at the time of the recession from the contract itself.
And the type?
It is always worth buying apartments with one or maximum two rooms because, the larger apartments involve higher costs and difficulties in managing domestic finances.
For those who do not enjoy a wide range of economic resources but still do not want to miss the opportunity to buy a property in the Big Apple, can opt for a studio apartment. However, this choice does not have a good market when you withdraw from the contract and want to resell the apartment.
For other related info we invite you to read our daily real estate news.
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