The Queens real estate market is heating up, and it’s no wonder why. This booming borough offers everything New Yorkers want in their real estate, and let’s face it, those standards are high. People are coming from all over the world to snatch up the finest luxury homes Queens has to offer.
Don’t believe that Queens is the new place to be? The numbers don’t lie; in the first quarter of 2014 the average home price leaped an impressive 10.3% to $429,544, while luxury home prices soared to an average of $1.03 million, a 19.5% increase over the prior year quarter. Demand for luxury homes in Queens is high and real estate in changing hands amongst a flurry of cash deals, bidding wars, and foreign buyers.
People are ready to get out of the rental game, and with prices in Brooklyn soaring, Queens is the logical move. It’s a short commute to Manhattan, it is home to some of NYC’s top schools, and there are plenty of parks, beaches, and nature preserves to visit on your days off. Really, there’s no downside to moving to Queens.
Is It Too Late to Buy a Luxury Home in Queens on My Budget?
Of course not! It’s never too late to make things happen in the NYC real estate market, you just have to know where to look. Many people don’t realize they can afford a spacious brand new luxury home in one of NYC’s fastest growing communities. Developments like Arverne By The Sea offer idyllic beachfront homes at truly affordable prices.
These two-family homes are an excellent investment for anyone looking to buy in Queens. With a 20-year UDAPP property tax abatement established for new buyers, real estate taxes are extremely low. Owners also enjoy the financial benefits of an income-producing rental unit. Located in an area experiencing rapid growth, a purchase here guarantees excellent resale value and provides owners with an unparalleled luxury living experience.
With several phases of brand-new two-family homes available right on the ocean, there’s simply no beating the pricing – especially considering similar stand-alone homes are going for more than a million dollars. Just 13 miles from Manhattan, the location is ideal for a quick commute by car, subway, ferry or by express bus service. Imagine after a long day of work, you drop off your briefcase and walk straight out to the sand of Rockaway Beach: how many luxury homes in Queens offer that amenity?