Despite the uncertainties, the New York real estate market is recovering: looking for bargains is now in vain.
Image: Bloomberg
The coronavirus pandemic has dealt a heavy blow to New York. Many people literally fled the metropolis, which can be bargained when looking for an apartment. At the same time, the “Big Apple” real estate market has recovered rapidly.
SecondThis is a provocative headline: “New York is dead forever,” wrote author and investor James Altucher in a guest article in a tabloid almost a year ago New York PostHe believes that American metropolises will not recover from the aftermath of the coronavirus pandemic as they did after the financial crisis or other setbacks around 2008. Many things have been irretrievably transferred to the virtual world, which makes New York heartache.
Contributions have been heatedly discussed. Many stubborn New Yorkers viewed it as an excessive black mark and heard the corresponding voice from real estate agents. During this time, the industry certainly has nothing to draw courage from, because its business in the city has almost stagnated. “2020 is almost like a year of write-off,” said Sebastian Steinau, a German who is engaged in real estate transactions under the New York brokerage firm Corcoran. But the picture changed. In the past few months, the real estate market has rebounded significantly, and at the same time, progress has been made with the COVID-19 vaccination and the relaxation of related restrictions. Prices have risen again, and the battle for bidders has intensified. Today, anyone hoping to find shelter through pandemic-related bargaining may soon be disillusioned.
