If the City of New York were an independent nation, would have a GDP higher than that of Switzerland. Its per capita GDP of € 59,000 would lead to second place in the world, exceeded only by Luxembourg. These two facts make us reflect on the wealth and power of the city.
The real estate market in Manhattan is determined by a growing demand outstrips supply. All this for a number of reasons:
1) In Manhattan, about 80% of the residential market is not interested by speculative investment: these are cooperatives that only allow personal use of the property. Investments recommended by us then overlook the remaining 20% of the housing market.
2)An audience of rational and liquids investors: over a fifth of all transactions are “cash transaction”. The subprime crisis has not hit the big apple .
3) The city's economy, especially after the '11 industry has become increasingly independent of Wall Street. Today in New York 80% of wages due to other sectors: health, media, fashion, research, tourism, politics (UN), the movie industry and advanced services (law firms, advertising, entertainment, etc..).
4) )New York is one of the western cities with the highest rate of population growth. Manhattan, in particular, besides being an island is also subject to strict planning laws and the tension of life is always very high ensuring a good seal in property values even in times of economic stress. Growth forecasts published by the City talking about a net increase of 900 thousand units' within the next 18 years, amounting to 50,000 new residents each year, this indicates a need for at least 15,000 new homes a year over the next 18 years.
5) To all this mentioned, overlaps a phenomenon typical of Manhattan: the elderly who choose to return to live in the Big Apple, where they have access to culture, entertainment, socialization opportunities for leisure and excellent medical care for the fourth age '(New York has the highest life expectancy than any other American city ').