New York Property Market and Real Estate Guide

(New York, NY, USA)

View of New York featuring the Chrysler BuildingIf you can buy property here, you can buy it anywhere - the New York property market is guaranteed to stay on top. The biggest city in the US is easily one of the most desired addresses in the world, and the Big Apple is sure to remain a major real estate draw card for the foreseeable future.

When former President Bill Clinton took up his national headquarters in the formerly down-market precinct of Harlem, eyebrows raised, but not for long - buzz is the key to the energy of New York and all it takes to shift an area of town from undesirable to unmissable is a single event such as this. There are really no areas of New York that are great value, and even humble Brooklyn has quickly shifted from the ugly sister of Manhattan to a place where New Yorkers-in-the-know choose to live.

Naturally, the glitzy apartments of Park Avenue and Central Park are still the most expensive places in town, but even lots of money won't necessarily buy you entry here - most blocks are tightly controlled by resident groups who exert final say over who is allowed to buy and move in. Commercial properties are at a premium too, despite one new skyscraper after the next opening its doors.

Renting Serviced Apartments

New York welcomes visitors by the million and many choose to stay for more than a week, wanting home comforts during this time. The serviced apartment industry has always boomed in New York - a city that prides itself on providing convenience to newcomers.

Sutton Place apartments are particularly desirable, being located in a prestigious neighborhood of New York, amidst the excitement and appeal of Midtown. This lively district is bounded by the East River and leads to the Upper East Side of Manhattan. Penthouses here offer a level of sophistication, accompanied by glorious cityscape panoramas and plenty of natural light, as well as the option of outdoor terrace areas, multiple bedrooms, and luxury television and stereo systems.

In general, serviced apartments in New York are as expensive as anything else in the city. Expect to pay at least double here for what an equivalent property would cost in any other major American city. Within downtown, however, serviced apartments cost up to a third more than an equivalent rental.

Buying Apartments and Houses

It is no longer difficult for foreigners to buy property anywhere in the United States and this includes New York. Yet buyers should seek sound advice from a professional. Renting is fairly easy and the amount of foreign nationals who come here to work and study makes taking out a lease an easy process.

Anyone in possession of a working or student visa will be able to handily take out a lease on a rental property in New York. The standard approval checklist applies - ability to maintain the rent and reference checks, for example. Leases will generally not be approved for terms longer than the validity of the visa.

Real Estate Agents

Finding a realtor in New York could not be much easier, since there are so many property managers and owners in the city. There are, literally, hundreds of thousands of properties in New York and several million office spaces, so the market is crowded to say the least. In ethnic precincts, multilingual realtors predominate.

Check out the following New York realtors and real estate agents:

Address: 1356 3rd Avenue, New York City, NY, 1075, USA
Tel: +1 212 734 0010
Billing itself as New York's premier realtor, Halstead has offices all over the metropolitan area.

Address: 600 Madison Avenue, New York City, NY, 10065, USA
Tel: +1 212 355 3550
Corcoran is a corporate oriented chain that has offices throughout New York.

Address: 250 Mercer Street, New York City, NY, 10012, USA
Tel: +1 212 672 6350
Deluxe corporate apartments for sale or lease in all major Manhattan areas.