How the real estate market in New York is recovering

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The contribution has been heatedly discussed. Many die-hard New Yorkers perceived it as excessive black painting, and corresponding tones were heard not least from real estate agents. At that time, of course, there was little from which the industry could draw courage, because its business in the city had almost come to a standstill. “2020 was almost like a year to write off,” says Sebastian Steinau, a German who trades in real estate under the umbrella of the New York brokerage company Corcoran. But the picture has changed. In the past few months, the real estate market has picked up considerably, parallel to the progress made with corona vaccinations and the associated relaxation of restrictions. Prices are rising again, and there are increasing bidders’ battles. Anyone looking for a place to live in the hope of pandemic-related bargains today may quickly become disillusioned.

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