Manhattan Real Estate Prices Break Records
Prices on Manhattan real estate are soaring. According to real estate firm Douglas Elliman, the average sales price went up 12 percent, while the median sales price broke records at $1.15 million.
“The (Manhattan) market continues to be a safe haven,” said Jonathan Miller, president of Miller Samuel, an appraisal firm. “The volatility and government intervention in China will just incentivize more outflows.”
There has been slow growth overseas, pushing many investors to look to Manhattan.
Image via Flickr/Rodrigo Paredes