Property prices in the USA

Over a third of the world's nationalities own property in the USA, with buyers from the UK, India, China (PRC, Hong Kong, Taiwan), Canada and Mexico accounting for nearly 50% of all property deals with foreign citizens.

Most of those eyeing real estate in the USA target New York, Florida and California.

New York City property attracts a wide range of buyers, from business people and investors to immigrants. Manhattan still has the most prestigious commercial and office units in the city, chosen by high-profile multinational companies, luxury restaurants and stores. Property is a profitable investment as it is always in high demand.

Brooklyn is another popular residential area outside Manhattan. Brooklyn Heights, Dumbo, Williamsburg and Park Slope are the best neighbourhoods in the borough. The Bronx, Queens and Staten Island are not the most sought after destinations but prices here are lower than in Manhattan or Brooklyn and houses sell at around $350,000–390,000.

Brownstones are one of New York's landmarks. Built during the late 19th and early 20th centuries, they earned their name from the reddish-brown sandstone bricks used in their construction. There are a lot of townhouses in New York City, even though these glorious three to five storey mansions have no elevators. Apartments may occupy an entire floor or half of it. Townhouses are also occasionally sold as entire buildings for some $5–20M and cooperative housing can be found throughout New York City.

Florida ranks first among the states for property purchases by non-residents. It offers everything you would expect from a resort: sandy beaches, pristine protected natural landscapes and modern amusement parks. Five-star hotels, high-rise housing and villas are found throughout Miami city and its suburban skyline. Apartments cost $200,000–300,000 while houses sell for an average of $600,000. Cheaper property can be found in Orlando, Palm Bay, West Palm Beach, Tampa and other cities in the state.

Property in California lost some of its value in the aftermath of the '08–'09 crisis, but even now buyers will find prices from $500,000 to several million dollar prices. Los Angeles, San Francisco and their suburban areas are the most expensive real estate markets and luxury property in Beverly Hills, Los Angeles, costs tens of millions of dollars.

The other states are primarily targeted by property investors or employees of US corporations. For example, entrepreneurs buy hotels and casinos in Las Vegas while the real estate market of Houston draws those working in the oil industry.

The southern and western states are popular holiday destinations. Utah is famous for the Snowbasin Ski Resort that hosted the 2002 Winter Olympics. A detached house here can be rented for $200–800 per night.

The Rocky Mountains are popular with sports aficionados that enjoy skiing, cycling, rafting and hiking. Colorado’s Copper Mountain offers condo hotel apartments for $100–400 per night.

Lake Tahoe, where California and Nevada meet, has excellent opportunities for downhill and cross-country skiing. Renting a detached house overlooking the pine trees or mountain wilderness can cost anywhere from $300–800 per night and homes sell for $200,000–1M.

The Great Lakes on the US-Canada border offer both high-end and affordable family hotels, as well as detached houses. A home overlooking the shore might cost $300,000–400,000 and rental rates are $500–600 per night.

Hawai is another famous destination with many resorts and historical landmarks. Houses in Honolulu cost from $200,000 to several millions of dollars and rental villas on Maui, Hawaii, might cost $1,000 per night.