Wei Min brings a client to look at 2-bedroom apartments in Tribeca and Financial District.

View more of my media appearances here: Media Appearances

Foreigner Buying Property in New York, 8 Questions That Matter

The most important questions for a foreigner buying property in Manhattan, New York. Includes property type, sizes and prices, rental yield, and structuring.

Read full article here: Foreigner Buying Property in New York, 8 Questions That Matter

February 2023 Manhattan Property Market Update

 

The Manhattan property market has been slow since July 2022 because of heightened interest rates.

But are we seeing a pickup?

Inflation has been coming down for 6 months straight.
Along with that, mortgage rates are down as well. The 30yr fixed mortgage is now at 6%, a 5-month low. The Oct’22 rate was 7%.

Meanwhile, the economy seems to be doing quite well. The unemployment rate at 3.4% is the lowest since 1969. And the stock market has gained 9% YTD.

Last week, we bid on a condo which had an accepted offer after only 2 weeks on the market. In the overall US market, new home sales in Dec’22 saw a 3% increase compared to the prior month.

These may be signs of a pickup in the property market.

Visit our website to learn more: February 2023 Manhattan Property Market Update