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.

With the global economy as shaky as it is, foreign buyers are looking to New York City as a place where they can safely invest and expect good returns as well. New York real estate is therefore a great option to do just that, with the city’s penchant for creating extravagant, eye-popping luxury homes famous throughout the world. According to an article in Business Insider, international buyers of New York apartments rarely choose to live in the amazing homes they have paid good money for—as the article put it, they are not looking to buy apartments; instead, they are paying for “safe deposit boxes with views!”

Buying homes in New York is not a tough task for international buyers, provided they have a guide to navigate them through all of the city’s rules and regulations. Glitzy projects like One57, 15 Central Park West and 18 Gramercy Park South are particularly alluring to foreign buyers, as getting into these buildings automatically signal their membership into the very exclusive club of New York’s elite. Besides, purchasing New York real estate is an investment like no other—not only would you be assured of a fabulous address to boast of, you’d be living in style in one of the best cities of the world.