Manhattan still strong
One of the most important markets in New York seems to have inaugurated 2020 in a big way.
After a period of decline, the Manhattan market begins to show the first signs of recovery.
The years of crisis therefore seem to be a distant memory, considering that, in the last quarter of the quarter, the purchase and sale contracts decreased by only 1.2%. Thus breaking a trend that instead marked significantly higher numbers.
The best recorded data, which breaks with the critical period started in 2017, gives hope to investors, who, however, still seem to have reservations about it.
In fact, potential buyers still don't trust Manhattan real estate, as the market seems to have overheated. Indeed, prices in 2017, despite exceeding the critical period, increased by almost 50%.
This has averted any active action oriented towards buying and selling. Currently the situation has totally changed. In fact, we are talking about a more relaxed moment, also thanks to the drop in prices. The numbers go down, but not yet too low to be considered advantageous.
Therefore a small effort from the buyers is requested. In lowering the '' claims '' and seeing the most important New York market, a real opportunity for one's future.
However, 2019 seems to have ended in the best way. We are talking about 88% of sales concluded with a turnover of three million dollars per unit. Really exorbitant figures, considering that it is a varied market, which includes both luxury but also the most standard residential.
But what were the factors that contributed to the awakening of Manhattan's real estate?
The new federal laws, first and foremost, have limited the tax benefits of properties through new property taxes. For this reason, it is the same owners of several properties who want to sell the second property to third parties, in the hope of being able to amortize these expenses.
The sellers, however, according to the main economists in the sector, should still continue towards the price reduction, reaching a share of -5 percentage points. But a big question mark is that represented by politics.
The new presidential elections, which will be held this year, could end this hopeful situation.
It is known that the situation is not at all simple, both in Manhattan and in New York.
As always, we cannot predict how the market will evolve in detail. Without a doubt, the variables to be considered are manifold. How different are also the characteristics sought in a property by the various categories of potential buyers.
What can we say, we just have to wait for important news from one of the most important real estate in America. If you too can't wait to find out more, or if you are interested in buying a property in Manhattan, you just have to do one thing. Continue to follow our blog, to view all the Realigro news!
After a period of decline, the Manhattan market begins to show the first signs of recovery.
The years of crisis therefore seem to be a distant memory, considering that, in the last quarter of the quarter, the purchase and sale contracts decreased by only 1.2%. Thus breaking a trend that instead marked significantly higher numbers.
The best recorded data, which breaks with the critical period started in 2017, gives hope to investors, who, however, still seem to have reservations about it.
In fact, potential buyers still don't trust Manhattan real estate, as the market seems to have overheated. Indeed, prices in 2017, despite exceeding the critical period, increased by almost 50%.
This has averted any active action oriented towards buying and selling. Currently the situation has totally changed. In fact, we are talking about a more relaxed moment, also thanks to the drop in prices. The numbers go down, but not yet too low to be considered advantageous.
Therefore a small effort from the buyers is requested. In lowering the '' claims '' and seeing the most important New York market, a real opportunity for one's future.
However, 2019 seems to have ended in the best way. We are talking about 88% of sales concluded with a turnover of three million dollars per unit. Really exorbitant figures, considering that it is a varied market, which includes both luxury but also the most standard residential.
But what were the factors that contributed to the awakening of Manhattan's real estate?
The new federal laws, first and foremost, have limited the tax benefits of properties through new property taxes. For this reason, it is the same owners of several properties who want to sell the second property to third parties, in the hope of being able to amortize these expenses.
The sellers, however, according to the main economists in the sector, should still continue towards the price reduction, reaching a share of -5 percentage points. But a big question mark is that represented by politics.
The new presidential elections, which will be held this year, could end this hopeful situation.
It is known that the situation is not at all simple, both in Manhattan and in New York.
As always, we cannot predict how the market will evolve in detail. Without a doubt, the variables to be considered are manifold. How different are also the characteristics sought in a property by the various categories of potential buyers.
What can we say, we just have to wait for important news from one of the most important real estate in America. If you too can't wait to find out more, or if you are interested in buying a property in Manhattan, you just have to do one thing. Continue to follow our blog, to view all the Realigro news!
