You may have seen a recent article in your favorite property news outlet about the emergence of Coworking spaces in self-storage properties. Then you read about the Swedish city’s new real estate “normal” and a new project in the UK: Country houses for sale. But there is even more to property news than that. Read on to find out what’s happening in the world of property investing.
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New York City’s new real estate “normal”
Recent reports on New York City real estate have made some people nervous, but a broad view of the city’s real estate market can explain why. The new tax law was a major factor in restraining the sale price of Manhattan condominiums, and its impact on the stock market and interest rates also made buyers cautious. However, despite the recent slump in the Manhattan real estate market, the price of other boroughs’ homes has been increasing over the past year.
While this situation isn’t ideal for buyers, there are some encouraging signs. While sales prices have dropped in most neighborhoods, the rental market is surprisingly responsive to market conditions. New York City’s new real estate “normal” may come sooner than many people think. The June total housing inventory in Manhattan was 18.2% less than last year. That lack of inventory means that the market is under significant upward pressure, but there are signs that things are stabilizing.
Coworking in self-storage properties
For those who are new to coworking, mistakes can be costly. A new coworking space owner may not realize they made a mistake until they are hundreds of thousands of dollars in debt. In addition to having an empty space, they may not achieve their financial goals, either. But fortunately, there are some common mistakes property owners should avoid. With these tips, you’ll be on your way to coworking success.
First, look for facilities that offer communal workspaces, also known as coworking spaces. While the prices for these spaces can be a bit higher, the facilities and amenities are generally more modern and up-to-code. Most of these spaces will have free wifi, but it’s unlikely you’ll be able to do any marketing or other work without a separate workspace. Besides, you’ll likely be sharing a building with other entrepreneurs.
Stockholm’s new real estate “normal”
In 2015, the city of Stockholm announced an ambitious plan to build thousands of housing units on vacant land. The ambitious plan relied on Stockholm’s land-control authority and includes municipal rental housing with low rents. After consulting several companies to build a thousand apartments, the city chose companies that could deliver a high-quality product at an affordable price. By 2020, it is expected to build three to five thousand dwellings. According to Eva Nygren, Stockholmshem’s head of development, the government is working to build housing for 20,000 people.
The situation in the Swedish real estate market remains challenging. Despite the tepid recovery, investors expect a risk premium and this impacts all sectors. Cash flow and core properties remain attractive due to inactive financing. New projects are starting, but many have been halted. Furthermore, there is an increasing interest among prospective sellers and investors. In other words, Stockholm’s new real estate “normal” may be just around the corner.
Country houses for sale in the UK
English country houses for sale are plentiful and include everything from grand Cotswold stone mansions to charming Queen Anne halls. You’ve probably heard of castles and townhouses, but have you ever longed to live in the country? The UK has plenty of rolling countryside to offer, and the stamp duty holiday has only increased the number of potential buyers. Country houses for sale in the UK have something to offer everyone – from working professionals to those looking for a relaxing getaway.
The oldest country houses are great houses – grand castles built by the country’s richest and most powerful people to demonstrate their power and ambition. These country houses typically have multiple properties – one for the summer and another for the winter. The Earl of Rosebery had several country mansions, including Dalmeny House in Scotland and Mentmore Towers in Buckinghamshire. He also had a house near Epsom for racing season. These aristocratic marriages continued into the twentieth century, and the tradition continues to this day.