RealtyPartner Reports the New York City Real Estate Seems to Be Recovering Faster Than Any Other City in US

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Back in 2009, it was easy for anyone to get an office space even in the Wall Street. The situation is not the same anymore as New York real city’s estate market is showing some brisk signs of recovery, according to RealtyPartner.com.

New York Real Estate

New York Real Estate

RealtyPartner's report says that about 5057 residential real estate property (all types) have been sold in the first quarter of 2011 alone, which proves the fact that New York City real estate is recovering real fast than any other city in the US.

New York is one city that cannot just be termed as an ‘US City’. The city of New York is a rock star among the top cities of the world as it is the life goal of many around the world to visit the city once in their life time, reports RealtyPartner.com.

New York real estate market is kind of unique when compared to the other cities, as the city is a genuine mixture of both residential and office buildings.

A recent report released by the Furman Center for Real Estate and Urban policy shows that although there isn’t any improvement in the appreciation value of the New York City real estate, considerable number of residential real estate sales have happened throughout the city.

RealtyPartner's report says that about 5057 residential real estate property (all types) have been sold in the first quarter of 2011 alone, which proves the fact that New York City real estate is recovering real fast than any other city in the US.

The report also shows that unlike other US cities where housing price appreciation is at -20%, New York city’s housing appreciation rate stands at -1.3% , which means that there is no considerable amount of depreciation to happen in the New York city real estate market. The report also highlights the fact that real estate prices in the areas like Manhattan city surprisingly have appreciated 2.5% and the prices are only 11% lower than the peak.

"One of the main reasons for New York City’s real estate market to remain stable is that New York is the center for global trade. Foreign countries like China are showing great interest in buying New York City real estate as they consider it to be a very stable investment, and for many immigrants living in the city, they see the sluggishness in the real estate market as their best chance to buy a home for themselves." - Mark Quinones, RealtyPartner CEO & Founder

With New York City’s real estate showing very good signs of recovery, buying a property in New York is a better bet than buying it elsewhere.

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Mark Quinones
RealtyPartner, LLC Founder
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