Price boost for new york properties

Apartments in New York have increased in value as the USA property market continues to recover, figures suggest.

Property prices in the city rose by 1.6% per square foot during the second quarter of 2011, with median sales reaching $850,000 (£527,000) per unit.

A report by Prudential Douglas Elliman reveals that average prices were up 8.5% on the first quarter, but remained lower than those recorded during the same period last year.

The National Association of Realtors reported a rise in pending home sales across all states in May, pointing to improved opportunities for USA property investment in the second half of the year.

Source: Assetz.co.uk