According to a report published by three Rutgers economists, land prices in Manhattan have risen 15.8% per year since 1993 and, if you go all the way back to Dutch settlement in 1626, there’s been a 6.4% annual rate of return. Not a bad investment.
Article can be found here.
Digs Realty is a full-service residential brokerage company specializing in home purchases and sales in New York City. Clients working with Digs on a purchase are eligible for a rebate of up to 2% of the purchase price and clients working with Digs on a sale are eligible for commission discounts.