New York remains atop the world in financial significance
When considering a move to a major metro area, consider investing in real estate in New York, NY. The large city goes by many names, but recently it was crowned the most economically powerful city in the world by Martin Prosperity Institute. Even through the housing troubles and financial shortcomings experienced across the United States for the past few years, the Big Apple has stood tall and remained stable.
The latest estimates from Martin Prosperity Institute were released, and the numbers compared the world's most influential cities, finding more than 80 percent of the U.S. economic output comes from major cities and their metro areas. What's more, according to The Atlantic, more than half of the world's population now lives in cities and metro areas, but in a couple of decades, that number is expected to increase to three quarters.
If you're looking to move to a new city, or from the suburbs into a borough of New York, you have a lot of options available to you. There are currently 271 for-sale properties listed on the market in the Big Apple, and while the median single-family home price is roughly $6,023,750, values have traditionally remained stable, ALTOSResearch reports.
The East Village in New York City is one of the most popular neighborhoods for first-time homebuyers. The area is close to the New York University campus, and offers the highest concentration of retail diversity, restaurant density, proximity to nightlife and desirability to creative individuals, The New York Times reports.
Of course, every neighborhood in New York, New York, is expensive, so buyers need to be prepared to submit hefty down payments for properties in the East Village. Renting alone can be quite a financial undertaking, as a typical two-bedroom apartment often costs nearly $3,300 a month.
When it comes to planning for the future and purchasing a home that will appreciate in value, buying New York City apartments can be a lucrative investment opportunity for many people. The nightlife, restaurant options and limitless adventures all contribute to making the area the most influential city in the world, and you may want to become a part of the experience today. If you desire housing in the thick of the city, with close a close commute to downtown, the East Village is the place for you and your family.