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  • New York: How did the strong growth of the elite market segment affect the analytics?

    In 2021, the post-pandemic recovery of the luxury real estate sector was expressed most in the segment of large and expensive apartments. Large-sized housing is still in the greatest demand on the market. A peculiar feature of last year was that premium properties accounted for a significantly higher proportion of total real estate transactions...

  • The New York real estate market remains in an expansionary phase in the first quarter of 2022

    Despite some decreasing sales in the luxury condominium sector, general sales were strong in the first quarter of 2022. There are enough offers on the market, and the increase in lending rates has had an additional spurring effect. A large volume of buyers rushed to the market, trying to buy property with a mortgage while conditions were more...

  • The first quarter of 2022 showed a record increase in property sales in Manhattan — $7,300,000,000

    Residential property sales in Manhattan hit a record of $7,300,000,000 in the first three months of this year. Recovery growth after the severe losses from the COVID-19 pandemic does not lose its strength. In New York, the average price of apartments in the central area increased by 19% compared to the first quarter of last year. We are talking...

  • About the state of the student accommodation sector in New York

    The student housing market is just one of many available tools for the investor when it comes to real estate investment. It is quite profitable. This sector deserves attention, even because of its stability, due to the constantly existing and renewing consumer base. There will always be students, and there will always be an offer to meet their...

  • In the New York real estate market, sellers still play the lead

    According to the latest information, the number of buyers is growing rapidly. The competition for each property increases, along with the buyer’s desire to pay much more than the original asking prices requested by the sellers. The local market turns into a large auction house, where each participant wages his own "bidding war" with...

  • In New York, the pace of construction remains high, but prices are  stabilizing steadily

    About 1,200 contracts for the purchase of new sponsor units (note: a sponsor unit - an apartment that entered the market for the first time) were signed in the first quarter of 2022. This is the highest quarterly figure since 2015. According to available information provided by the Marketproof platform, sales of newly built condominiums were the...

  • Lawmakers aim to combat money-laundering through New York real estate

    It is planned to introduce a law into New York legislation obliging LLC format companies (note: limited liability companies) to publish information on people who purchase properties with their help. The key trigger for considering this bill was the battle against the property of Russian oligarchs, who were sanctioned because of the...

  • Mortgage interest rates are on the rise and they are already at their highest pace since 1994

    The fourth working week of March 2022 (note: March 21-25) ended a unique period in the history of the real estate market. During that week, mortgage rates rose to their highest level in more than three years. At the same time, the contract rate for a 30-year fixed-rate mortgage loan increased by 4.8%. A week earlier, this percentage was 4.5 points...

  • Condominium prices have hit all-time highs

    Many Americans, who previously couldn't afford full homes, now may find themselves unable to afford condominiums. The average price for a standard, typical, American condominium reached $319,000 last month. In annual terms, it grew by 14.6%. Last but not least, the price increase is connected with a noticeable reduction in the supply of real...

  • How the unethical behavior of wealthy buyers makes the New York real estate market less accessible

    A fairly old practice that has received publicity in the past few years disadvantages ordinary buyers and market investors. We are talking about the “stealing” of properties even before housing units officially enter the market. This “snatching” (note: snatching) has different names, but its essence boils down to the...