Buy house new york: popular areas, and potential returns!

The preparation of www.luxforsale.it interviewed Sara Traverso, real estate broker in New York Reisol Italian company with over thirty years experience in the real estate industry, whose job is to advise and lead the customer to the best investment, reducing risks and maximizing the 'investment

The real estate market in New York attracts investors from all over the world, but what are currently the most sought after areas?

The demand to use investments in New York has always been very high. Manhattan until recently was the favorite destination, but a couple of years now the trend has changed and has grown exponentially in the request for Brooklyn by foreign investors. To be precise, this is the result of a process started much earlier at the hands of New Yorkers, since entire families residing in Manhattan, to cope with increasing prices, they had to move to Brooklyn neighborhoods like Williamsburg and Dumbo in search of housing units in purchase or rent at lower prices, with two or three bedrooms most suitable to accommodate a family. With the same budget to buy a studio apartment in Manhattan you could choose an apartment in Brooklyn, perhaps with outdoor spaces livable. The growing demand has prompted developers to purchase and improvement of whole buildings, bringing the high standards that distinguish the landscape building in Manhattan. This process has triggered the regeneration of entire neighborhoods and consequent rise in property values.

What are the potential and the guarantees of Brooklyn for investors?

Potential Brooklyn are already visible in neighborhoods like Williamsburg and Dumbo. Taking the example of Williamsburg, the Brooklyn neighborhood best known internationally for 10 years has had a significant increase in the average value per square meter. It has gone from $ 2,690 / sq m in 2004 to $ 10,960.00 / sqm in 2014 (source: marketplace.brownstoner.com) in line with the values ??of Manhattan. This is the reason why international investors today are buying entire buildings in the surrounding neighborhoods in Williamsburg and Dumbo. In particular Bedford Stuyvsant and Bushwick are among the most popular. These areas are ideal conditions: the purchase price very interesting with great potential for growth and profitability up to 6%. Guarantees for investors are also found in the growth of other sectors in addition to the real estate. For example, a recent state law to facilitate the start-up technology companies, is creating a migration from California to Brooklyn for a number of high tech companies. These initiatives will create significant jobs, in fact, American graduates are choosing Brooklyn as the first half as the trendy and important job opportunities. The forecasts of the state of New York estimates a population increase of about 1 million people in the next ten years for this reason are in place substantial investment in infrastructure and alternative transportation. With regard to this argument point out an interesting study carried out by Urbanomix and commissioned by the Partners of the Brooklyn tech triangle on the economic impact of the creative industries and technology in this area are listed on the site www.brooklyntechtriangle.com interesting data about.

Which 'do you think the most efficient channel for an Italian interested in investing in these emerging areas?

While in Manhattan or Brooklyn areas already well developed a savvy investor can even think of venturing alone in these emerging areas with high potential for growth is in our opinion essential join forces with an experienced local partner.

Our company 'based in Milan and New York offers the opportunity for investors to get into Italian society in the things people do in Brooklyn using our know-how. Along with other local partners, we have created a dynamic vehicle in which we have dedicated staff for each aspect. This allows us to find the best opportunities and provide customer collateral not only during the acquisition of the product, but also in the management and resale of the same

What are the risks and how and 'can mitigate them?

For an investor with a time horizon of medium and long-term risks to our view are rather limited compared to the potential return on investment. The fundamental economic and demographic of these areas are unique in this particular moment: the local economy growing, change of use from warehouse to manufacturing and high tech, creative work, film etc .. require several rents in both the commercial and the residential and this trend has only just begun. When customers ask me what the risk of investing in these areas say: time. In the sense that the rise in the markets is essential to choose the right timing to plan their investment and I can safely say that now is the right time to ride the wave of Brooklyn.

What you expect returns in 5-10 years?

We are currently operating in accordance with a target of immediate income of 6% secured by leases in place and an average appreciation of 10% annually, with an extremely low level of risk, in Brooklyn, for example, the rate of average vacancy and '2%, virtually nil. I realize it is not easy for an Italian abroad just get a view based on a rental in place to calculate profitability, but it's not. Often when I meet clients Italians in New York they ask me if we have opportunities to guaranteed income. Here we do not use formulas of this type, the landlord has a real protection despite not need it because it is difficult to verify cases of non-payment.

For more information

www.rei-sol.com

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