New York real estate

New York real estate

New York, this city well known to us from films, is the location of many headquarters apartments of international political and economic organizations, various global corporations, industrial companies and banks. These factors largely determine real estate prices in the Big Apple. And these prices are among the highest on the planet.

However, the pricing policy in New York real estate seems quite unusual. For example, when real estate prices were steadily falling all over the world, including the United States, they still continued to rise in this metropolis. And this is truly a phenomenal case. But how can one explain it? In principle, everything is very simple.

New York has a special status. For some it is the world economic capital, and for others it is the center of the world. That's why it was nicknamed the «Big Apple». It is believed that a person who buys real estate in New York becomes part of the world elite. Another reason for the popularity of New York among investors is due to the presence of a large number of financial corporations in this city, which has a positive effect on business development. The flow of cash investment here does not dry out, which, of course, affects the cost of housing in this metropolis.

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But New York attracts not only businessmen. This city offers everyone the widest, most incredible range of opportunities and services from the point of view of active people. In addition, the Big Apple has one of the most developed infrastructures in the world, which also affects the cost of apartments and private houses.

New York is divided into different districts, among which there is a hierarchy. If in some of the most prestigious areas only the richest people can purchase real estate, in others even people of average income can do so. There are areas that can be called developing, the prices in them are quite affordable, however, in the future these areas promise to be among the most prestigious, and therefore purchasing real estate there can be a very profitable decision. In general, there are currently 5 large districts in New York.

The most expensive in this sense, of course, will be Manhattan. And this is not surprising, because most of the large corporations are concentrated in this area. Here you will find the well-known Wall Street, the chic Fifth Avenue, famous for the most expensive and most American-style luxurious stores in the world, and Broadway, well known to film lovers. The price of one “square” in this elite area can reach 100 thousand dollars, and in some cases – even more. It all depends on the location of the house and the characteristics of the apartment. But it’s almost impossible to find housing cheaper than 10 thousand dollars per square meter here. Manhattan is home to many historically and architecturally valuable buildings, which in itself increases the cost of their square meters.

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The closest area to Manhattan, Brooklyn, offers real estate at slightly more modest prices. But you still shouldn’t expect to find cheap housing here. The good location of this area, coupled with the proximity to the city's financial center, attracts many investors here. This affects the cost of real estate, so the difference in prices compared to Manhattan is by no means large — the difference is several thousand dollars per square meter, and this, you see, is almost unnoticeable when we are talking about astronomical amounts from the point of view of the poor average person. Here you can also buy a mansion, which will cost you at least 800 thousand dollars.

The Bronx is also one of the city's elite areas. This is a residential area that also has a lot of expensive real estate. Moreover, housing prices here are expected to rise, albeit at a slow pace. This area is also attractive for investors. The cost of good housing here starts from 400-500 thousand dollars in the case of an apartment, and from 700 thousand in the case of private houses.

The largest borough in the Big Apple is Queens. Housing prices here are lower compared to the above-mentioned central areas and do not differ in rapid growth. Although, as throughout New York, they still continue to grow, so you can invest money in real estate in this area without much fear. The cost of housing here starts from 5 thousand per square meter. Prices for private development start from 350 thousand dollars, it depends on many different factors.

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And finally, Staten Island — that area, oh which can be said to be developing. It is not yet one of the prestigious areas of the city, but expects to become so in the future due to its growing popularity. Today this area can be compared to a suburb. There is a low population density here, there are many spacious plots of land registered as private property. In Staten Island, it is quite possible to buy a good-quality private home for several thousand dollars.

So, real estate prices in the Big Apple are very diverse. However, investing money in this area will have guaranteed benefits, because New York, as you know, is a city of wide opportunities for life, work and business.