Some people wonders around and look for a decent place to buy Condo. One of the consideration to purchase a condo, is the possibility of raise in price of Condo. As a condominium is considered as an asset, you would like to have a clear view of how much it worths in the future.
According to New York Times, Real Estate data, the Price of Condo at Park South Slope has increased 39.7% over the 5 years. This means a 5 bedroom that sold for $833,485 (example) five years ago would go for $1.16 million today.
Why we have to buy the lowest price increase? because it’s possible to rise even higher in the future. If you buy a condo in NYC which has already increase 53.1% or in brooklyn which has increase 70.1% over the last 5 years, it’s going to be hard for them to keep on increasing for the next couple years.