To spread their money around, investors from all over the world have always bought land in Manhattan, New York. New York is one of the two most stable and safe places for investors to buy an apartment because it is a simple property that is easy to handle. However, everybody wants to know if the real estate for sale in Manhattan is worth the investment.
Limited Supply
Whatever new growth there is, it’s only a small part of the inventory. In a normal U.S. city that isn’t an island, builders always add to the city by putting up new buildings farther away from the center. But there isn’t any more room to build in Manhattan. No more land is available to build on, and investors who do find land for a new project are limited by New York City’s zoning laws in how much they can build.
Stable Investment
Manhattan home prices have been steadily going up. In times of economic growth, the prices of condos at places like Fifteen Hudson Yards tend to rise between 7% and 15% per year. During a recession, the drop was between 4% and 10%. Prices stay stable because of inflation, demand from people wanting to live on this beautiful island, and investors who want to buy a piece of it.
Owning a Condo Is Easy
When investing in real estate for sale in Manhattan, most people opt for a condo unless they want to spend $10 million or more on a townhouse or mixed-use building. When you live in an apartment, you pretty much own the place inside its four walls. You don’t have to worry about things like a roof, boiler, or outside wall, so you have a lot less stress.
