There are a lot of areas where property values continue to decline as the world tries to recover form this recession but not in Manhattan. The island has all but been built on and people are not taking much attention to the fact that the area is prime real estate with values continuing to rise due to the lack of any more space. With more and more people feeling the urge to live nearer their places of work, Manhattan continues to lure many business people who will pay a premium on property in the area. As quoted by one property expert:

Manhattan real estate is just going to keep going up and up in value. Everyone wants to live here. And there is no place left to build–Manhattan is an island. These people don’t understand how golden an apartment in Manhattan is. Even Brooklyn and Queens are on an Island (Long Island) and all the good building areas are taken. Europeans and Asians are flying in each day to buy an apartment or two in New York. Don’t count us out. $2,000 a sqare foot is not too much to be at the center or the world, or to have an investment rental condo at the center of the world.