Chinese investors eye New York as safe haven

More and more Chinese people are seeking safe investments due to several reasons, including the slowing economy of China, the volatile stock market, and the increasing anti-corruption probes. The U.S. real estate market, especially New York, stands out as a safe haven for these Chinese buyers. The median price for Manhattan houses has increased by 6.3% from last year, and Brooklyn price has increased by 9%. Twenty-eight percent of all international residential home purchase in the United States were made by Chinese investors in 2014. Looking back into historical trend of New York real estate market, people can find value of investments in New York are preserved and expanded over time. There're also some challenges facing buyers such as scarcity of supply and a lack of good schools in the city. The full article could be read here.