New York City Real Estate

New York Real Estate: An overview

New York City, NY is famous for a multitude of reasons, but the Big Apple's reputation when it comes to real estate hasn't always been rosy. Being one of the world's financial capitals, and providing much to do and see, making it popular both as a living hot spot and a travel destination, historically New York City has offered low standard real estate for high prices. For many years, finding a low price and good quality piece of real estate in NYC was somewhat akin to finding the proverbial needle in the haystack, but this isn't the case anymore.

In recent years, prices have been falling in New York City and investment opportunities have appeared all across the different areas of the city. No longer does a low price tag have to equate with poor quality and low returns. In fact, it is becoming easier and easier to land a decent piece of real estate in New York without breaking the bank, and the city really does now offer something for everyone, from the new investor to the seasoned real estate magnate looking for the big bucks. With the rise in the foreclosure market and new government property developments lending a helping hand to the housing market, the future seems bright for the NYC real estate investment market.

The total population of New York City (around 8 million people) is divided into five boroughs, and each has something slightly different to offer the real estate investor. Although Manhattan is usually the focus of people talking about New York City, there are also The Bronx, Brooklyn, Queens and Staten Island to be taken into consideration when looking for a real estate investment opportunity. The following is a quick overview of the five boroughs of New York City, NY and what they have to offer:

Even though the physical center of the city is roughly located on the Queens-Brooklyn border, Manhattan holds such a focus in New York City that many people will refer to the "Outer Boroughs" when talking about the other areas of NYC. Manhattan is one of the cultural, commercial and financial capitals of the world and is home to most of the major media, publishing and telecoms companies in the US. Manhattan also has many famous landmarks and other tourist attractions that make it the most popular destination for those visiting New York City on vacation. Needless to say, this makes Manhattan the busiest of the five boroughs, and also where most of the fast paced real estate investment takes place. The apartments in Manhattan are some of the most desired properties in the US, and most certainly in NYC.

Queens always has a lot to offer in terms of property investment, with a constant turnover of thousands of homes for sale and strong real estate appreciation. Being the second-largest borough in terms of population and the largest in terms of area, Queens is one of the original 12 counties of New York and contains two of the three main New York City airports, LaGuardia and John F. Kennedy. It also hosts the US Open tennis competition and is home to the New York Mets baseball team. Queens offers the real estate investor a high return for a reasonably modest investment and can be well worth looking into.

Many real estate investment opportunities can be found in The Bronx. Even though the borough is one of the most densely populated counties in the U.S. it contains a surprising amount of open space, including parks and the Bronx Zoo. The west side of The Bronx contains more hills and is closer to Manhattan, while the east side is closer to Queens and Long Island and is much flatter. Containing properties right across the pricing scale, The Bronx offers something for everyone and can be a great place to start out in NYC real estate investment.

Being the third largest borough in area but the least populated with around half a million residents, Staten Island is the place for big time investors. The most suburban area of New York City and with property prices starting around $2m, Staten Island real estate investment will not be for everyone, but this exclusive investment opportunity promises a much higher return for those that can afford it.

Located at the west end of Long Island, Brooklyn contains the largest population in New York City, with some 2.5 million calling it home. Brooklyn is unique among the five boroughs in that it seems able to maintain its own independent art scene and distinct culture whilst still being a part of New York City. Brooklyn has the highest real estate appreciation rates in New York City, and as such provides a very attractive package to the real estate investor looking for property in NYC. Recently a lot of energy has been channeled into revitalizing the borough, and this makes it even more attractive to investors as the appreciation is likely to keep rising.

There is much more that can be said about the wealth of choice and the possibilities available in New York City. Whether you are looking for a low cost, stable investment with reasonable returns, a high risk and high stakes investment, or exclusive high-end property investment, New York City, NY has it all. New York City real estate can be an extremely lucrative addition to your financial portfolio regardless of which area you choose to invest in. New York City can help you to reach the big leagues of real estate investment.

As you can no doubt see by now, New York City, NY currently has some of the most attractive real estate investment opportunities in the United States. There is no better time than right now for making a huge profit if you choose your investment carefully. The information contained in these articles will guide you through the maze that is New York City real estate investment and help you to make an informed decision for the best return on your money.