Manhattan apartment sales rise in Q2

The value of apartments in Manhattan increased in the second quarter of this year, according to new figures.

A Prudential Douglas Elliman report revealed the price per square foot for properties in the city rose 1.6 per cent, with median sales reaching $850,000 (£527,000) per unit.

Author of the survey Jonathan Miller was reported by Reuters as saying that Manhattan is performing particularly well in the US property sector at the moment.

"Manhattan is one of the better markets in the country, along with [Washington] DC," he added. "We're in a modest, stable housing market."

The report said the median sales price was an 8.5 per cent boost on the same data compiled in the preceding three-month period, although it remained lower than statistics collected this time last year.

Recent figures from the National Association of Realtors found pending home sales rose across all regions of the US in May, suggesting improved housing activity in the second half of 2011.
 

Like this? Then share with your friends and colleagues!