Annual return on Manhattan apartment vs Dow

Posted by Wei Min Tan on October 30, 2017

Publication:  TheStreet.com

 

Summary:  Wei Min’s article comparing annual return of Manhattan apartment vs Dow

 

Excerpt:

What’s the expected return on investment (ROI) on an investment apartment in Manhattan?

Well, it’s a forecast, and as a real estate broker, I never promise investor clients prices will appreciate by X percent within Y years. But what I can share is the historical trend of price appreciation on a Manhattan apartment, as this chart shows.

Based on data from Miller Samuel on condos and co-ops, prices were $328 per square foot in 1997 and increased to $1,183 in 2008. From there, they declined to $1,051 in 2009. From 1997 through 2009, the average appreciation was 10.2% per year. Alternatively, prices went up 3.2 times during that period.



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Wei Min Tan is a property broker focusing on Manhattan, New York luxury condominiums and foreign buyers. He is often interviewed by the media including CNN, The New York Times and The Wall Street Journal on the subject of foreign buyers of Manhattan property.