Real Estate Weekly
MAY 16, 2014
Say you suddenly decide you want to buy an SUV. Would you call your real estate broker at 5 a.m. and tell him to drive to the next dealership ASAP? If this sounds ludicrous, you haven’t met Gennady Perepada’s clients.
On a recent Wednesday afternoon, the fifty-something, Soviet-born broker sat in his small Midtown office examining the sales contract for a brand new Toyota Highlander.
Voice of America
APRIL 26, 2014
WASHINGTON — Anyone familiar with the New York or Miami real estate markets knows the buying power of Russia’s moneyed class – from the super-rich to the merely well-off.
But two alarming trends in the Russian Federation – the steady build-up of jingoistic rhetoric from President Vladimir Putin and a sharp downturn in the economy – are significantly altering the investment decisions of Russia’s wary elite.
Gennady Perepada was featured on German’s main television channel in an episode: “New York: Big Apple nur noch für die Superreichen?” discussing New York real estate.
By Rashid Dyusembayev
Luring Kazakh investors into the U.S financial Capital,
American companies open offices in Almaty.
New York remains the largest market by volume of real estate transactions in the world, according to the recently published report by Cushman & Wakefield. The study was conducted among the top 25 global cities in the world. In the Big Apple, real estate market volume has reached $649 billion in 2013 – 16.7% higher than last year. Analysts note that real estate prices in the U.S. as a whole and particularly in America’s financial Capital have grown, making this investment instrument more attractive to investors from around the world.
“Despite the fact that prices for real estate market began to revive in the U.S. – with an average growth of 7-12% in 2012 – the price of an average home has not reached the pre-crisis level, “- notices Gennady Perepada, the Founder of One and Only Realty.com, Real Estate Brokerage in New York.
According to Perepada, the largest American metropolis is one of the best investment real estate markets in world. “When we talk about elite apartments in New York, the price of them remains high regardless of downturns in the U.S. market,” – says Perepada. According to a ranking of cities with the most expensive real estate, recently published on forbes.com, NY stands only in the 6th place with the leader being Hong Kong, followed by Tokyo and London. While in London and Paris prices stagnate, New York observes further price growth, which offers interesting opportunities for investors.
New York is one of the leading global business, financial and cultural centers, and its influence in politics, education, entertainment, media, fashion and art contributes to the status of the world capital. With more than 200 thousand enterprises including 53 of the world ‘s largest corporations and two leading world stock exchanges, New York has one of the most developed and integrated economies. As analysts at Cushman & Wakefield report, London is the largest office real estate market, Hong Kong – commercial, Los Angeles – warehouse and industrial, and New York – hotel and residential real estate market.
These investment tools, according to Perepada, attract investors from all over the world, including Kazakhstan. Observing increased demand from Kazakhstan investors, he opened an office in Almaty, the largest city in Kazakhstan. Gennady emphasizes that they are especially attracted to real estate in Manhattan, where you can buy as a two-bedroom apartment for $ 1.7 million as well as multimillion apartments in the Trump International or The Plaza to live next door with world celebrities. According to estimates of Perepada, the demand grows as there are more high-rise residential residences being developed in Manhattan (Class Luxury & 5 -Stars).
“Today in New York, the proportion of foreign buyers accounts for about 30% the real estate market, which mostly consists of investors from the CIS and Asia. In the market of new developments their share approaches 50% of the total sales “- indicates Perepada. This information correlates with the figures in the report of Cushman & Wakefield – 32% of the total amount of national investments into real estate transactions were made by the representatives from Asia.
Realtors explain the high interest in real estate investments that this market is much more secure than the stock or business market. Its price trends are resistant to external factors. Plus property brings a stable and predictable income, and this income almost always exceeds the rate of inflation. “Currently we are seeing double-digit return on real estate investments in such areas as New York and Miami Beach. Such profit is convincing compared to stocks or commodities,” – says Perepada.
One and Only Realty estimates that real estate in New York is attractive as for conservative investors (rental income of 3-6% per year) as well as for those who are attuned to the higher-yields – prices rose by 12 % last year. Monthly rent for one-bedroom apartment (from $2,700 to $4,500) has already equaled to the mortgage payments for a similar condominium. And the average price per square meter established in the past year at $4,100 is 47% higher than in 2005. That is, despite the crisis in 2008, the growth trend for real estate in New York is retained.
“Many indicators show that the demand for real estate will grow and expand into new markets, which will lead to an increase in the share of international investment as investors reduce the risk threshold. Provided that the U.S. economy will continue to recover, we can assume that the following year will be favorable for most countries in the world, “- says Carlo Barel di Sant’Albano, a member of the Board of Directors at Cushman & Wakefield.
According to Perepada, the future growth in the value of real estate in New York is guaranteed due to three main components defining the further economic development of the city: it attracts the most talented people from all over the world, it attracts more investment, both domestic and international, than any other world-class city; urban infrastructure, political and economic regimes stimulate the growth of the city in many retrospectives (for example , laws make it easy discover and develop new business , business law and real estate law provide the same rights of American citizens and foreigners , etc.).
Published: November 11, 2013
“It takes a certain kind of person to regard luxury real estate in New York as cheap, maybe even embarrassingly cheap when compared with other global capitals. If such people hail from the former Soviet Union, and want to add a Manhattan address to a portfolio that might already include homes in London or Dubai or St. Tropez, they might seek out a real estate agent who appreciates their unusual perspective. They might seek out Gennady Perepada.”
17 Сентября 2013 года
maindoor.ru – Мировой Портал Недвижимости
“Эпоха мыльного пузыря в Штатах осталась позади, но насколько безопасно и выгодно приобретать здесь недвижимость на данный момент? С одной стороны, сейчас существует уникальная возможность купить жилье по выгодной цене, с другой – у банковской сферы страны до сих пор есть проблемы. О том, какие существуют риски, стоит ли инвесторам вкладывать средства в рынок США и какие у него перспективы, Maindoor.ru рассказали эксперты…”
by Юлия Бединская
Sob.ru – Портал про Недвижимость
“Сейчас, когда многие состоятельные американцы терпят убытки из-за кредитного кризиса и общих финансовых неурядиц, растет число россиян, которые ищут – и покупают – дома в недешевых американских «анклавах». Хотя число россиян, располагающих средствами для приобретения престижных домов, относительно невелико, для американского рынка недвижимости они представляют собой важную целевую группу, о которой, впрочем, мало известно…”