Will more foreign money buy NYC real estate?

2016-07-05
New York

Foreign investment in New York commercial real estate market is expected to increase in the next year. It's especially popular for people looking to invest in a safe haven to preserve wealth. In 2015, $24 billion was poured into Manhattan real estate, in which Chinese investors contributed the most with $9 billion. The sector that is most impacted by foreign investment is residential property in NYC (57%), followed by hotels (47%), office buildings (37%) and retail (30%). Real estate price in NYC is appreciating but still good compared to Hong Kong and London. US government's new tax law that reduce tax on benefits from real estate investments in the US by foreign pension funds will further attract international investors and increase their interest in NYC commercial real estate. Read the full story here.

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