Ah yes, the urban sprawl of downtown New York, also known as Manhattan. One of, if not the most attractive urban real estate in the world.
Major cities like London, Toyko and Paris have brilliant real estate investing opportunities. But New York is, well, New York! There’s nothing like this city and investors around the globe know it. This is why you will see apartments, condos, penthouses and even parking space, going for obscene prices. And yet, those who are willing or able to pay see no reason to stop investing in this incredible place.
Real estate is not something that is easily understandable. For one thing, most people think that money can only go up in property investments. It’s not true. So here is why you should invest properly if you intend to go into Manhattan.
Business districts will always offer a lot of opportunities to the young professional, especially to the sharks that have been promoted early on in their careers. These young sharks are perhaps someone who saved or made the firm a lot of money. They may be a kind of someone important in Wall Street. Whatever the case is, affluent young professionals will always be attracted to Manhattan but for more than just doing business.
Manhattan has swanky bars, incredibly popular restaurants, nightclubs and famous landmarks. So there is a lot to see, do, eat, experience and more. This is why investing in Manhattan often makes more sense than other business districts such as the City of London.
There are lots of good real estate websites that you should use to check out the latest listings. Make sure that you are reading the features carefully. The square-feet on offer is important. Some of the best real estate will be 1,500 square-feet and over. The amount of bedrooms, bathrooms and style of living space is vital. Open plans are perhaps the most important thing because affluent apartments that fetch a high rate are large open spaces which clients can relax in without feeling like they’re in a small urban apartment.
Unlike other parts of the world, real estate in Manhattan will never just dry up. There are new high-rise buildings being built as we speak. Some cities might lose their urban apartment value the more they spread, but in Manhattan they have literally the sky as their real estate expansion space. So there is a never-ending revolving door of real estate that keeps getting renewed, rebuilt, built anew and it means your investment is always going to remain competitive. This is perhaps why you shouldn’t worry too much about location, as long as it’s inside Manhattan.
Manhattan is so popular because it attracts some of the most affluent investors, entrepreneurs, professionals and business owners from around the world. It’s likely going to stay like that indefinitely, not even the pandemic could shake it from the top of the tree.
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.