Planning to move to New York in 2022 but unsure about your decision? Here are 7 reasons why now is the best time to move to The Big Apple.
Imagine waking up in the New York City apartment of your dreams. It’s everything you wanted. The price was right. The neighborhood is great. All your prized possessions – furniture, fine art and antiques – were brought safely into your new apartment.
What could be better?
You may have been planning to move to New York but got caught up in the pandemic situation. Or maybe you were a New Yorker who left the city at the height of COVID-19, and you’re coming back to NYC after a long time being away.
If you’ve been putting off your plans to move or return to New York, here are 7 surprising reasons why you need to pull the trigger on that plan today.
1. New York is bringing the social back to social distancing.
Lunch in TriBeCa, then a matinee show on Broadway? Maybe an evening stroll in Central Park followed by drinks in SoHo? Why not do all of them?
Well, now you can.
In December 2021, over 70% of New Yorkers got their vaccine. New York has one of the highest vaccination rates in the U.S. and the state continues to push for more people to get vaccinated.
You still have to wear a mask in public places and practice social distancing. But you won’t have to choose spending your leisure time between the reading nook in your apartment, or the grocery store nearby.
2. Tourism is back.
Wall Street may be one of the most recognizable street names in NYC. But I would argue it’s the Bull of Wall Street that draws in those large crowds.
New York’s iconic places are back in full swing and with this reopening comes new business opportunities. The state is committed to its economic recovery, with programs like the Tourism Return-to-Work program, and the Restaurant Resiliency Program, designed for small business owners.
So, restaurants are opening up again. Tourists arriving in the city need a place to stay. If you’re passionate about business, now is your chance to create real value for New Yorkers.
3. The startup scene is booming.
Speaking of creating value: Did you know about the startup slump in New York? There were only a few startups in the years leading up to the pandemic. But this changed in 2021 when more people filed new business applications.
If you fancy building your startup in New York, now is the time. New York State is actively deploying a $100M capital fund for both industries and individuals. Crunchbase also recorded a whopping $7.6B in early- to-late-stage seed funding for startups in New York.
With money pouring into New York as venture capital and state investment, you could be in the middle of this economic hub, creating jobs and opportunities for New Yorkers.
4. People are returning to work in offices.
Working from home during the pandemic was interesting. But if you’re like 27% of New Yorkers who took part in this survey, you may be open to working in an office a few times a week.
New York’s high vaccination rates, plus its commitment to economic recovery, is a potent combination for ambitious people. Being with your team in an office could be the spark you need to launch a new service or product idea.
But if working from home is more of your thing, no problem. You can move to New York knowing you could get great apartment deals in winter.
5. Winter is a great time to move to New York.
Moving to New York in winter may seem like a bad idea. But don’t let the cold weather fool you. In fact, a study by RentHop determined February is the best month to make a move – and this applies to New York and other states, too.
An empty apartment is a landlord’s worst nightmare, so property managers are often willing to negotiate your lease to guarantee a tenancy. And even if New York’s rental prices are returning to pre-pandemic rates, few renters enter the market during the winter months. This means fewer people competing to get apartments, giving you better negotiating power.
Not to mention – you’ll have less competition when hiring a moving company.
6. Commercial and residential real estate in New York is ripe with opportunity.
The pandemic may have pushed real estate prices down. But for seasoned investors, opportunity is present in both crisis and economic abundance.
The median resale price for apartments in Manhattan is now at $999,000. This price will continue to soar as New York’s COVID-19 response improves and vaccination rates go higher.
If you’ve been planning to buy an apartment or commercial property, there’s no better time than now to do it. You don’t want to regret that missed opportunity when prices go up again.
7. Events in NYC are coming back in a big way.
Economists would argue that tourism in New York is never really back until Broadway reopens.
Well, Broadway is finally back!
And it’s not just Broadway. Many events in New York are coming back in a big way, too, including the Winter Jazz Fest and Restaurant Week. New York’s calendar is packed full of in-person conferences and attractions, so there will be no shortage of things to do and events to attend.
Wake up in the apartment of your dreams
New York is going through changes in colorful and meaningful ways. It is home to some of the best recurring annual events and attractions. Its real estate market is booming again, and the community is thriving.
Whether you want to be in New York City for its events, culture or to start a new life or business, now is the best time to consider moving to the City That Never Sleeps.