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About New York

Featuring several architectural landmarks that make up an iconic skyline, New York is one of the most influential global cities.

With a population of almost 8.5 million people, New York has the largest regional economy and is the most populated city in the United States. Anchored by Wall Street in Lower Manhattan, New York is one of the world’s premier financial centres, home to two of the largest stock exchanges, as well as a host of market leaders in law, accountancy, advertising, entertainment, and technology.

New York’s Real Estate Market

New York Real Estate Market

Over the past 30 years, there have been four recessions or significant events that have impacted the New York real estate market. Throughout each, real estate prices either remained level or recovered in a very short period.

A falling market caused by the aftermath of the financial crisis started to increase from the beginning of 2010 leading to house prices almost doubling until its peak in 2017.

Increasing house prices and advances in engineering, fuelled a construction boom especially in ultra-luxury housing developments—including the entirety of what is now known as Billionaire’s Row. As more luxury developments came online, the market became oversaturated at the high end. Increased supply, political uncertainty and tax changes put downward pressure on price growth, causing the market to experience a slowdown from mid-2017 which was further affected by lockdowns and the suspension of international travel through 2020.

December 2020 marked a key turning point as sales activity ticked upwards and by the end of Q2 2021 sales ran at a 14 year high with prices also starting to increase, with the average price up 1.5%.

New York’s Key Areas

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