How are real estate prices in Manhattan, USA?

Data show that since 2015, Chinese investors have spent US$3.8 billion on real estate in Manhattan, New York, more than three times the amount in 2014. At the same time, New York real estate continues to be bullish, prompting the popularity of core real estate projects in Manhattan.

The New York real estate market is becoming the "global asset safe" in the minds of high-net-worth groups. So, what’s the current state of the New York real estate investment market? Which type of real estate investment offers higher returns and higher security?

The New York real estate market is in turmoil: residential real estate investment beats office real estate investment

Chinese high-net-worth individuals have always maintained a high degree of enthusiasm for U.S. real estate investment, especially residential real estate investment. . According to statistics from the National Association of Realtors, in the year ending 2015, Chinese buyers spent US$28.6 billion on US real estate, an increase of 30% year-on-year, mainly for purchasing Residential property.

New York’s residential market is also generally bullish in line with the general trend in the United States. Last year, the average house price in New York was around US$550,000, with an annual increase of 8%; of the 6,000 units listed this year, half have been bought, and properties priced below 1 million are basically on the market within two weeks due to their high cost performance. The inside was swept away.

Real estate transaction data from 2012 to 2015 in Chinatown, Manhattan, New York also shows that of the 12,602 unit real estate transactions conducted in the past four years, 90 were residential properties.

Contrary to the boom in New York’s residential real estate market, the performance of the New York office market is quite bleak. According to a survey by Savills and Deakin University, office yields in Hong Kong and New York rank at the bottom among major global cities. The yields of Grade A office buildings in the central business districts of the two cities after deducting rent reduction factors , only 2.85 and 3.29 respectively.

As more and more investors have both immigration and settlement needs, they are more concerned about building a stable future for their families when investing in real estate. Therefore, the market demand for residential properties for sale is even greater. In short supply.

New York real estate continues to rise, and investment in core real estate in Manhattan is booming

It is reported that the current housing prices in New York have exceeded the 10-20 in 2007, reaching a historical high.

As the center of New York, housing prices in Manhattan have continued to soar: In the past 10 years, the average housing price in Manhattan has increased by 40%, reaching US$1.7 million, setting a 26-year record for the Manhattan housing market;

The real estate transaction volume in 2014 was also 25.3 higher than that in 2005, which was the third highest in 30 years.

Some insiders predict that from 2015 to 2016, housing prices in Manhattan will increase by 5-10%.