Is now a good time to invest in Manhattan, New York residential property?

The Manhattan, New York residential property market had a tremendous year in 2021, and the trend is continuing into 2022.  Sales volume for the overall condo and coop markets in 2021 was the highest in 32 years because of low mortgage rates, pent up demand, reopening of the economy and overall optimism as more than 70 percent of New Yorkers have been vaccinated.  The streets of NYC feel very normal these days and will be 100% when everyone is back at the office full time.

Read full article here: Is now a good time to invest in Manhattan, New York residential property?

US property price to income ratio

 

Are we in a bubble?

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Business Insider interviews Wei Min in "5 Things To Do When Investing In New York Property."

5 Things To Do When Investing In New York City Real Estate

• Megan Willett   
• AUG. 12, 2014, 10:58AM

Read article at BusinessInsider.com
 

New York City is one of the most stable real estate markets in the world because it is both highly transparent and under-leveraged.
 

As a result, it's a hot location for people looking to invest in property who don't necessarily plan to live there.

“Everyone has access to the same inventory,” Wei Min Tan, a Manhattan condominium buyer's broker for real estate firm Rutenberg Realty NY, explained to Business Insider. “In a lot of countries the market is not so open and only one broker may have access to those listings. Here, everyone has the same access.”

5 Tips For Investing In A New York Apartment

As an investor and investor-focused property broker, I have invested in single family houses, multi-family buildings and condominium apartments over the past 10 years.  Each asset class has its pros and cons. 

Reasons for investing in New York property

New York is now the #1 ranked destination for global property investment.  Currently Chinese investors are a driver but depending on time period, New York has always had strong demand from foreign property investors.  As a broker interacting with foreign investors on a weekly basis, here are key reasons as to why wealthy individuals globally are investing in New York.

Investing in New York Property - direct investment or REITs

Comparison of direct property investment (buying a condo or building) vs buying REITs (eg stocks of Boston Properties, SL Green, Vornado who own a lot of Manhattan commercial properties).