Properties in New York (state)

BUY REAL ESTATE IN NEW YORK

Buying a property in the USA is a long–term reliable investment with a high and stable income.

Firstly, the United States is a state that excludes various legal risks to which real estate in developing countries is exposed. Here, property is inviolable, and investors are respected and appreciated. There is a high standard of living, many opportunities for study and personal growth, career and entrepreneurship, and citizens are friendly and open to communication.

Secondly, the US real estate market is showing development and growth, especially in New York. For example, in Manhattan, the average cost of apartments has increased by 9% over the past year, and in Brooklyn – by 5%. In addition, there is currently a shortage of supply in the American market. At the beginning of 2024, about 1.87 million residential properties were on sale: this is one of the lowest figures in the last 15 years, which will certainly lead to a more active price increase in the coming years.

In addition, the decrease in supply volumes against the background of the obvious advantages of American real estate in New York contributes to its high liquidity. In the third quarter . An apartment in Manhattan could be sold in an average of 2-2.5 months (for comparison, in 2014 it took more than 3 months to sell).

Thirdly, real estate in New York and, above all, here you can not only profitably sell after some time, but also successfully rent out, paying off investments. The average rental price in Manhattan is $5,339 per month, and in Brooklyn - $3,600. Rental rates, especially for liquid apartments – not very large and well-located, are constantly growing. For example, in Manhattan, the cost of renting a one-bedroom apartment has increased by 10.7% since last year. And the average rental income can be 4-5% per year.

And if you want to increase your investment income, then you can consider options such as buying an apartment in a building under construction with resale after completion of construction, when the value of the object will definitely increase. It is worth noting that in the latter case, in addition to everything, you can also get a tax benefit - exemption from tax increases due to an increase in the value of real estate due to its repair. And also, home buyers in New York projects built from 2005 to 2008 can count on a tax break. (these are mostly houses in Manhattan): they are exempt from property tax increases for 10 years.

Fourth, real estate in the USA is quite affordable. For example, the average cost per square foot in Manhattan is $1,592, and in Brooklyn – $849. This is quite comparable to prices in central London, Paris or Berlin.

To buy real estate in New York, you can get a mortgage loan. Mortgages in the United States are easily issued not only to Americans, but also to foreigners, including Russians. And of course, mortgage rates are much lower than in Russia, a loan can be issued at 3.75 - 5%. Thus, using "cheap" money, you can increase the investment profitability of real estate without withdrawing funds from business and other profitable assets.

And finally, investments in the United States allow you to obtain a residence permit – the coveted "green card" for many. With it, you can safely live in America, it gives you the right to work and opens the way to all the benefits of a highly developed state. Investors can apply for a green card under the EB-5 program by investing their funds (from $500 thousand) in certain projects, for example, in the construction of hotels or residential complexes. The advantage of this program is that, together with the investor, a residence permit in the United States is issued to his family: his spouse and unmarried children under the age of 21. 5-6 years after joining the program, you can obtain U.S. citizenship and return your investments.