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February 2, 2023
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February 2, 2023
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New York City Roommate Rent Skyrockets 20% in a Year

Meanwhile, Miami reports the return of foreign buyers

Riccardo RavasinibyRiccardo Ravasini
New York City Roommate Rent Skyrockets 20% in a Year

Manhattan Skyline. Photo: Terry W. Sanders

Time: 1 min read

Even with roommates, New York City tenants paid the most monthly rent in the U.S. — $1,559 on average — during the last three months of 2022. The city’s average monthly share of rent with a roommate increased 20 percent from the same point in the previous year.

And roommate rents in some neighborhoods went from expensive-but-still-theoretically-doable to flat-out ridiculous. An apartment in Gramercy Park, for example, cost $2,051 per roommate as 2021 closed, the study found. One year later, the neighborhood’s average roommate rent stood at $2,936.

Foreign investment floods into Miami Real Estate

According to a new report from the Miami Association of Realtors, foreign buyers picked up $6.8 billion of South Florida residential real estate between August 2021 and July 2022. That’s a 34% increase from the prior year.

Foreign buyers made up 17% of home sales in Miami over this period, and the median price of homes they bought was $500,000. The majority, 66%, made all-cash purchases. Of that buying, nearly 40% said they would use the property as a residential rental, while around 20% would make it their primary residence.

(source: patch.com, axios.com)

 

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Riccardo Ravasini

Riccardo Ravasini

Riccardo Ravasini è cresciuto in Italia, dove si è laureato in economia all’Università Bocconi di Milano. Dopo il trasferimento a New York, si è subito fatto affascinare dal settore immobiliare. La passione per il Real Estate unita all’esperienza e alla professionalità acquisita negli anni ha fatto sì che Riccardo sia diventato un punto di riferimento per i suoi clienti sia italiani che americani. Affiliato al network Compass Riccardo oltre che a New York è attivo anche nel mercato immobiliare di Miami. Riccardo Ravasini is a residential real estate agent based in New York City. Since 2008 he has led and managed an array of transactions and consulted a diversity of clients – from young professionals and families to individual investors, estates, corporations and more. In 2013, Riccardo became an active realtor in South Florida; his team offers investment properties in the Miami and Ft. Lauderdale markets to clients from all over the U.S. and the world. Riccardo is a graduate of Bocconi University.

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