NEW YORK | 5 MINUTE READ
PROPERTY INVESTMENT IN NEW YORK: A TIMELESS CITY OF LUXURY AND CULTURE
Recently Paddy Dring, joint head at the Knight Frank Private Office, shared some very interesting insights into the current investors market. Within his findings, it was highlighted that New York, similarly to London, is currently in a difficult financial climate, and is certainly deemed as a tricky location to break into as an investor, or someone looking for a second home.
However, New York remains a city of unparalleled opportunities for those with a long-term perspective, like our clients at Accouter, New York's intrinsic value as a global financial hub is undeniable, not to mention it’s wealth of culture, art, schools and theatre that the city is renowned for.
Ultra-High-Net-Worth Clients are often exploring the purchase of a rental property portfolio, seeking to diversify from European markets. New York was reported towards the bottom of the top places to invest in within the 2024 Prime Cities Index, however it is without notice that this location shares the resilience that London has.
These clients that we at Accouter work with are drawn to the city's potential for long-term capital appreciation and preservation, alongside steady yields. Both cities are strong magnets for wealthy international buyers, due to their status as economic capitals, offering extensive networks of banks, accountancy firms, and concierge services.
New York's appeal goes beyond its financial prowess. It is a culturally vibrant city, boasting top-tier schools, universities, world-renowned art collections, opera, and theatre. This cultural richness attracts individuals who prioritise a dynamic and intellectually stimulating environment over cities with more attractive tax regimes or currency advantages.
It's crucial to acknowledge the discerning nature of global buyers. While political uncertainties in the UK may cause some super-prime purchasers to hesitate, the most sophisticated investors recognise the unique allure of New York. The city's historical and cultural significance is embodied in iconic residences like the Waldorf Astoria, once home to legends such as Frank Sinatra, Grace Kelly, and Elizabeth II, or in London’s OWO, where Winston Churchill and Lawrence of Arabia used to walk the corridors.
At Accouter, we align with our clients' strategic vision, understanding that every great city has its quieter moments. We aim to abstain from knee-jerk reactions, instead taking a measured approach to help navigate short-term challenges and achieve long-term personal and investment goals.
Similar to property investment in London, New York's enduring appeal as both a financial hub and cultural epicentre makes it a prime choice for luxury living. Our studio are poised to help our clients unlock the vast potential this iconic city offers, ensuring their investments are both lucrative and enriching.