New York cools but Brooklyn bursts into the real estate market
'' The Big Apple '' seems to no longer be so popular in 2019.
One of the most famous cities in the world, is seeing the prices of rents in the hot zones collapse and the only area that allows to tow the entire city is the borough of Brooklyn. From what this situation derives, but above all, because Brooklyn is the area more sought after by investors?
About ten years ago, Brooklyn was able to 'float' in the sea of the real estate market thanks to the Manhattan area. Today the situation is completely reversed, as very important companies have decided to establish their own legal and working office in this area.
According to recent statistics, many real estate professionals but also many potential buyers, have chosen this neighborhood, which seems to have had a disproportionate growth in the last period. There are 450 companies that have guaranteed more than 6,500 jobs, and it is easy to understand how and especially how many people have been transformed from simple workers into apartments investors in Brooklyn or simply underwriting contracts.
As for the other districts of New York instead, it seems that the decline is really one of the most dramatic in recent years.
The worst percentage of the collapse in prices and demand for real estate contracts was recorded in the East Village area (-33%).
Many people have been forced to reduce their expectations: the rent in New York often comes to cost about two thirds of the salary, which is why, in order to solve various problems, we tend to converge all the financial resources into more affordable areas.
The price of transport reaches an average of 116 dollars a month, 78% more than the national average.
But if you are interested in buying a property, this is the right time.
The average price has reached 1 million dollars in the Manhattan area but the most dramatic drop is the one recorded for luxury properties.
So, you investor who is there to ask you whether or not to buy a property in New York, why not push a little 'over and maybe invest in New York luxury? The inability to sell almost every neighborhood in New York, except for Brooklyn, has obviously led to this collapse in prices, hoping to speed up sales and return to a thriving economy.
Almost all the under 30s have decided to pack their bags and move to this area, which thanks to this boom of requests, can now afford the luxury of increasing their prices.
The minimum you can spend is 500 thousand dollars but it is still an excellent investment to do now if you want to grab an apartment in one of the most modern and famous cities in the world.
What to say, if you are an investor you must hope that this phase lasts as long as possible, but if you are an owner of a property, you will absolutely have to get busy!
One of the most famous cities in the world, is seeing the prices of rents in the hot zones collapse and the only area that allows to tow the entire city is the borough of Brooklyn. From what this situation derives, but above all, because Brooklyn is the area more sought after by investors?
About ten years ago, Brooklyn was able to 'float' in the sea of the real estate market thanks to the Manhattan area. Today the situation is completely reversed, as very important companies have decided to establish their own legal and working office in this area.
According to recent statistics, many real estate professionals but also many potential buyers, have chosen this neighborhood, which seems to have had a disproportionate growth in the last period. There are 450 companies that have guaranteed more than 6,500 jobs, and it is easy to understand how and especially how many people have been transformed from simple workers into apartments investors in Brooklyn or simply underwriting contracts.
As for the other districts of New York instead, it seems that the decline is really one of the most dramatic in recent years.
The worst percentage of the collapse in prices and demand for real estate contracts was recorded in the East Village area (-33%).
Many people have been forced to reduce their expectations: the rent in New York often comes to cost about two thirds of the salary, which is why, in order to solve various problems, we tend to converge all the financial resources into more affordable areas.
The price of transport reaches an average of 116 dollars a month, 78% more than the national average.
But if you are interested in buying a property, this is the right time.
The average price has reached 1 million dollars in the Manhattan area but the most dramatic drop is the one recorded for luxury properties.
So, you investor who is there to ask you whether or not to buy a property in New York, why not push a little 'over and maybe invest in New York luxury? The inability to sell almost every neighborhood in New York, except for Brooklyn, has obviously led to this collapse in prices, hoping to speed up sales and return to a thriving economy.
Almost all the under 30s have decided to pack their bags and move to this area, which thanks to this boom of requests, can now afford the luxury of increasing their prices.
The minimum you can spend is 500 thousand dollars but it is still an excellent investment to do now if you want to grab an apartment in one of the most modern and famous cities in the world.
What to say, if you are an investor you must hope that this phase lasts as long as possible, but if you are an owner of a property, you will absolutely have to get busy!
