Invest in estate in USA It is possible for Latin Americans, beyond the already known Miami and Detroit. New York is also a possibility to set your sights on, for those who want to have a home in the United States.
“The city is an attractive refuge for investors due to its stability and its importance as a financial, cultural and commercial center. In recent years, there has been a sustained increase in the valuation of propertiesdriven by limited inventory and a constant influx of new residents and global companies,” explained Julieta Monge Molina, commercial director of Dividenz for the Southern Cone, a company that facilitates access to the United States real estate market.
According to data from PropertyShark, in October 2024, the average sales price of properties in Manhattan it reached $1,000,000, reflecting a year-on-year increase of 12%. Added to this is the dynamism of the rental market: in August of this year, the average rent in Manhattan stood at $3,425.
“Argentines, like many Latin American investors, seek to protect and diversify their capital in international markets that are more solid than local ones. This trend responds not only to the need to protect against economic volatility, but also to a culture deeply rooted in the region: trust in brick as a tangible asset and an essential part of the real economy,” said Monge Molina.
What to take into account when investing in real estate in New York
“The real estate market in New York is different from the rest of USA. From how it is negotiated, the communication between people, the prices and the structures of the properties. 80% of the properties in Manhattan are cooperatives, that is, buildings where people reside and own the property through a share, not an actual asset. The remaining 20% are condominiums, which have fewer restrictions and are where foreigners can invest,” explained Miriam Cortazzo, broker at Kelly Williams in New York.
Regarding prices, in New York They are higher than in Miami. The square foot, which is equivalent to 0.920 square meters, is around US$1,500 to US$2,000 for estate used. “A studio apartment is approximately US$800,000,” said Cortazzo.
The areas to acquire an apartment depend on the purpose given to the apartment. property. “For Argentines, Manhattan is a trophy. But Midtown West, Tribecca, Soho and Central Park West also developed a lot, which is a little more accessible,” the specialist clarified.
Profitability and risks
To get an idea of the profitability that can be obtained with a real estate investment, Monge Molina graphs: “We have a multifamily and commercial building in Midown West that offers an estimated annual return of 15.06% in dollars.” This area, located near Times Square and Central Park, is undergoing significant luxury residential development.
However, as with any investment, there are certain risks, such as fluctuations in stock prices. properties and variations in rental rates. “However, the real estate market has historically demonstrated notable stability and predictable behavior, since it is an instrument that moves more slowly and with less volatility than other financial assets,” concluded Monge Molina.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
