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January 2025 Insights: Emerging Trends in Luxury Real Estate
The luxury real estate sector in New York City continues to capture global attention as it evolves in response to changing market dynamics, buyer preferences, and economic conditions. Whether you're an investor, a buyer, or simply fascinated by the city's high-end market, understanding these trends can offer valuable insight into what's driving demand and shaping the future of luxury living. Here are some key luxury real estate trends to watch in 2025.
Co-op/Condo vs. Townhouse
When buying a home in the city, luxury buyers often choose between a co-op/condo and a townhouse, each with unique benefits. NYC consists of 98% co-ops/condos and only 2% townhouses, influencing decision-making. This blog post will explore the key differences to help you decide. Co-ops and condos offer various amenities and a sense of community. In a co-op, buyers purchase shares in a corporation that owns the building, granting them a lease for their unit. Condo owners own their individual units and share common areas with other owners.
How to Choose a Buyer’s Agent!
You are about to embark on what is likely the biggest purchase you have ever made and one that has probably entailed some serious frugality on your part, to save that 20% downpayment. A consummate professional who is there to protect your interests is an absolute necessity. In order to make sure you have the right person on your side requires some effort on your part.
Work with us.
sevierteam@compass.com
(917) 991-5386
110 Fifth Ave, 3rd Floor
New York, NY 10011