Articles on International Buyers in Manhattan

Ride the Tide of Foreign Investment

Overhead view of New York City or Manhattan at dusk, with Empire State Building in foreview

Photo courtesy of Anthony Quintano

Last week, the Adirondack Mountains in New York acquired their very own international investor, Jack Ma, who is a multi-billionaire and founder of the Alibaba Group. Ma purchased over 28 thousand acres for $23 million, in an effort to conserve the land. In early May of this year, Ma stepped down from his position as CEO of Alibaba and climbed right back up as Chairman of the Board for The Nature Conservancy in China. 

Record High Residential Spending & Foreign Investments

Foreign Investments Manhattan New Construction

Image via Flickr

The Real Deal recently reported that new residential construction cost has hit an all-time $12 billion high over the last year. Spending shot up 73 percent in 2014 to $11.9 billion, the former record even after accounting for inflation. Despite spending reaching new heights, the actual number of new units constructed in 2014 has not increased proportionally; units are being underproduced. Only 20,329 units were created last year, just 11 percent more than the year before, but far less than the 30,000 new units created annually between 2005 and 2008.

International Buyers Making New York City Real Estate Sector Shine

International buyers are dominating Manhattans real estate market

New York City’s real estate sector has been having a great spell over the past few months. Several high profile listings have come into the limelight this past year, with some garnering eyeballs for their astounding heights and others with their stupendous brands of luxury. Besides these, many new construction projects are also being developed, with these swanky new apartments being lapped up as soon as they enter the market. But what’s interesting about the buyers of these ultra deluxe homes is that many of them are not from New York, or even from America—foreign buyers are dominating Manhattan’s real estate scene today.

Manhattan Real Estate Strengthens NYC’s Global Image

The Manhattan skyline, the hottest real estate market in the worldFew New Yorkers would be surprised to hear that many consider Manhattan as the hottest real estate market in the world, but some might be taken aback that international buyers often regard Manhattan condos as “bargains.” People across the globe tend to view Manhattan as unceasingly dynamic and fast-paced. International buyers from places like the UK, China, and Brazil, however, are not only attracted to Manhattan because of its energy, but also because of the stability and value of its real estate market. These international buyers are purchasing Manhattan property at a rapid rate and are sure to change the face of Manhattan real estate once again.

High Taxes Spark British Invasion of NYC

The English are increasingly investing in Manhattan real estateWatch out, Manhattan real estate: the British are coming. Currently faced with a wave of tax burdens in London, local property buyers are being provoked to take their business elsewhere. Back in March, the British government began cracking down on tax avoidance, focusing tax-collections on the city’s biggest buyers: foreign investors. According to a recent study, purchasers of London property priced over £2 million are paying twice as much in transaction taxes than those buying in New York. So from the Irish buying out Midtown to the French election prompting wealthier residents to relocate, many Europeans are finding New York City to be a safe haven for their investments, and the Brits are just the latest group geared to make an impression on our market.

French Election Brings in More Foreign Investors

Trump Soho in ManhattanAnother wave of Manhattan luxury condos are about to become pieds-a-terres, as the recent election in France is prompting the country's wealthiest members to invest in property overseas. New Construction Manhattan has extensively covered international sweeps through the New York real estate market, detailing everything from Irish buyers taking over Midtown, to the high number of Brazilians moving into the city. France is now expected to join the ranks, and these serious, driven buyers are sure to make an impression on the market.

Condos as Investment, Condos as Condos, and the Hazard of Projecting National Trends Onto NYC

Investing in Manhattan real estate - NYC condosInvestors have always played a big part in the Manhattan real estate market. Which, given that Manhattan condominiums remain one of the premier real estate investments this side of the private island, makes plenty of sense. But while investors hoovering up NYC condominiums isn't news, the number of investors currently buying up Manhattan condos -- and the percentage of the Manhattan condo market that those investors currently represent -- is looking more and more like news. And in this moderately slow and still-recovering Manhattan condominium marketplace, investors are making a bigger impact than ever. Which is nice, but what impact will it have on those -- to take one example -- who are browsing Upper East Side condominium listings less to find an investment than in hopes of actually moving to the Upper East Side?