During 2018, New York was placed among the states of choice for foreign investors, according to the Profile of International Transactions of Residential Real Estate in the United States 2018, published by the National Association of Realtors (NAR). In addition to that, the stability and growth of the northern country’s economy make it the preferred market for foreigners to invest in real estate.
Shopping in iconic New York City?
Although it is not a destination that offers competitive profit margins, since it does not exceed 3%, the strength of its real estate market, there are many compelling reasons why this destination is a safe haven when it comes to investing in bricks.
(Sotheby’s International Realty – East Side Manhattan Brokeragel.)
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These are some reasons why buying a house in The Big Apple is a good deal.
1. Lifestyle for everyone
In New York there is so much diversity and options in its residential areas than any other city in the country. Lower Manhattan, for example, has neighborhoods like Chinatown, SoHo, Greenwich Village, and the LES (Lower East Side). This variety allows buyers and investors to determine the type of property that is best for them.
(Sotheby’s International Realty – East Side Manhattan Brokeragel.)
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2. Variety of real estate opportunities
New York City offers real estate investment options for all tastes and budgets. Do you want to live in a spectacular tower, or in a traditional brownstone? It’s up to you.
3. Maximum capital gain
New York is a leading world-class city. Therefore, if we compare it with the main cities in the world, it is not among the most expensive to buy a house. According to the Global Living Report of the CBRE consultancy, the first places are occupied by Hong Kong, Singapore and Shanghai, while New York occupies the seventh place, of the 10 evaluated by the company.
(Sotheby’s International Realty – East Side Manhattan Brokeragel)
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4. The economic pulse
While it is not the most expensive in the world, in many ways it is number one. The American Enterprise Institute recently ranked the GDP of metropolitan areas around the world, pinning New York-New Jersey as the top spot, with a GDP of $ 1.6 trillion, larger than most nations. On the other hand, the 2016 Knight Frank Wealth Report ranks the city number one in wealth distribution with 5,600 UHNWIs (ultra-high net worth individuals).
(Sotheby’s International Realty – East Side Manhattan Brokeragel)
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5. Business development
In the top five of productive sectors are legal, financial, media, advertising and fashion services. Additionally, New York has the fastest growing tech industry in America. Most of the Fortune 100 companies are housed here.
| If you want to wake up in a city that never sleeps and live as the world number 1, The Woolworth Tower Residences it’s your dream come true. Every dollar invested will be pure capital gains. |
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