Are New York studio apartments really good investments for first-time buyers? Studios and one-bedrooms are on the rise again – especially in Manhattan and Brooklyn


Key Topics in this News Article:

News Snapshot:

At the start of this year, homebuyers desperate to get onto the property ladder in New York City scrambled to secure small flats. In the world’s second-most expensive housing market – where in 2022 prime property values run to US$2,580 per sq ft, behind only Hong Kong’s US$4,530 per sq ft according to Savills – one-bedroom unit prices were up 26.2 per cent year on year. Thankfully, for eager new buyers, the spike was short and sweet. Luxury New York brokerage Serhant, which reported the data in its first-quarter market report, finds activity has declined ever since. Garrett Derderian, director...