In 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, and they can also buy a house or buy an apartment in NYC.
Are you 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 haven when it comes to investing in bricks. 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 in any other city in the country. For example, Lower Manhattan has neighborhoods like tribeca apartments for rent, Chinatown, SoHo, Greenwich Village, and LES (Lower East Side). This variety allows buyers and investors to determine the type of property that is best for them.
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 a traditional brownstone? It’s up to you.
3. Maximum Capital Gain Singapore
New York is a leading world-class city. Therefore, if we compare it with the world’s top cities, it is not expensive to buy a house. According to the Global Living Report of the CBRE consultancy, the first places are occupied by Hong Kong, Siand Shanghai. In contrast, New York occupies the seventh place of the ten evaluated by the company.
4. The Economic Pulse
While it is not the most expensive in the world, it is number one in many ways. The American Enterprise Institute recently ranked the GDP of metropolitan areas worldwide, 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 as number one in wealth distribution with 5,600 UHNWIs (ultra-high net worth individuals).
5. Business Development
The top five 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.