New York, Jan 27 (EFE) .- Having the Trump brand on the facade of a building in New York is no longer a symbol of status or luxury on the rise, since the apartments of the former president’s conglomerate have lost 50% of their value during the four years of his presidency, according to a study by a real estate consultancy.
According to Urbandigs, the price per square meter of Trump-branded buildings in New York has fallen by around 50% between 2016 and 2020, while in Manhattan as a whole the collapse has been only 9%.
“An analysis of the average price per square meter in buildings with the Trump brand shows a drop in prices and low demand when compared to buildings that have abandoned the Trump brand or with the rest of Manhattan condos in general,” says the study published this week.
The buildings of former President Donald Trump’s conglomerate have gone from being valued at about 70% above the Manhattan average to falling below the average cost of a square meter on the island with the most sought-after real estate market in New York. York.
In 2016, when the tycoon won the election, the square meter of an apartment in a Trump building had an exorbitant median price of $ 36,002 per square meter in 2016, while in Manhattan the average was around $ 21,466.
In 2020, after four years of Trump’s presidency and widespread animosity from much of New York City (Staten Island appears to be the last Trumpist stronghold in the metropolis), the price of a Trump apartment fell to $ 17,420 per square meter. .
This bad evolution of the Trump brand has added to the real estate storm that has unleashed the pandemic during 2020 and that has led the relative demand ratio in Manhattan to go from 61% to 40%, according to the report.
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