The Big Apple v the Big Smoke

30 May 2021

The Sunday Times

Residents of both New York and London have been pouring out of the city centres to the countryside beyond, and international investors unable to visit, but with both countries powering ahead with vaccination programmes life is returning.

The rental market has already begun to pick up in New York, with 9,087 new contracts signed in April compared with 1,407 a year ago. Rental prices have been falling steadily from an average (median) of $3,650 a month in April 2020 to $2,975 in April 2021, according to Knight Frank Research with agents Douglas Elliman and Miller Samuel. The luxury end of market remains high-end, with average monthly rents of $7,500.

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