Best Places to Invest in Real Estate in New York
New York is not only a center of social, cultural, and entertainment life but also an investment attraction. Buying real estate in the US is an investment method that has remained popular for years. New York is one of the main places that attract people’s attention for real estate investment. In this article, we shared the best places to invest in real estate in New York.
Upper East Side (UES)
Upper East Side is one of New York’s most iconic districts, with its excellent location near Central Park and cultural institutions. It invites beautiful tree-lined streets, pre-war architecture, and brownstones to appeal to a broad audience. Upper East Side is home to some of the most expensive apartments, but it also has some of the most reasonably priced properties. Upper East Side has a tipping point of 30 years. In this neighborhood, the supply of houses is greater than the demand for houses. For homes, the median list price of the Upper East Side is $ 1,4 million. The median list price per square meter is $ 1,300 in Upper East Side.
Inwood is a dazzling place with its green areas. There are many houses in the market of this area, and the interest rates are quite low. It is pretty cheap compared to most other places in Manhattan. House prices have been on the rise in Inwood in recent years. The median home costs are worth $ 500,000, and the monthly median rents are around $ 2,000. The median list price of homes in Inwood is $ 465,000. The median listing price per square foot is $ 510 in Inwood.
Bay Ridge is an area with lower than average prices. The development of the transportation network in the region is among the essential factors that make this a good investment tool. Especially, direct ferry services to Wall Street make it even more advantageous. Besides, this district attracts investors with its atmosphere that makes it feel safe and livable. In Bay Ridge, the supply of homes is greater than the demand for homes. The median list price of homes in Bay Ridge is $ 598,500, and the median listing price per square foot is $ 537.
Washington Heights is constantly appreciated because it is more affordable compared to many places. Some condos cost less than a thousand dollars for a square foot here. There is also a lower overall tax invoicing here. There are also some apartments offering excellent rental rates. The median list price of homes in Washington Heights is $ 599,000, and the median listing price per square foot is $ 682.
Long Island City (LIC)
Long Island City is one of the most advantageous real estate investment areas in Queens. It is a developed industrial area. Also, the colorful social life in the area makes many people enthusiastic about living here. The safe atmosphere also increases the interest in the area. If you want to invest, the number of buyers who will compete with you will be less than many other areas. In Long Island City, the median list price of homes is $ 899,000, and the median listing price per square foot is $ 1,000. The median rent is $ 2,225 here.