11:45:40 | 2012-05-25
(New York, NY) — Aside from the rather foggy outlook for nation’s real estate market; the New York City market has managed to grow at a surprisingly rapid rate. The economic outlook for the country is growing, there are even prices of certain properties in the city that are higher than their peak amounts before the 2008 real estate crisis. In fact, reports have shown square footage rates for residential properties have already managed to grow since the beginning of the year alone. Prices of Manhattan properties are being driven up at an astronomically high rate, and the New York market has one group in particular to thank; Chinese investors.
Investors from mainland China are coming to New York City in droves to buy commercial properties and to take advantage of different real estate investment opportunities in the U.S.’s largest city. Their efforts have helped to dramatically boost the local prices within New York City real estate market, in a way that no other group has managed to do before. Real Estate specialists are stating that many Chinese-based companies are buying properties in the city as an effort to establish New York City headquarters.
These Chinese companies are turning to New York as part of their global expansion plans and instead of renting these buildings they are now buying the properties they wish to use to establish their international headquarters in. The investors coming over from China aren’t just making small investments either. Investment immigration into the United States deems that those looking to travel to the U.S. have investable assets of more than $15.9 million.
This trend for Chinese investors has caused the United States to now be the top emigration destination for wealthy investors from the country. Experts agree that there is no better city in the world than New York for these investors to add to their investment portfolio, meaning there is little chance that this trend will soon come to a halt. As property rates continues to rise and Chinese investors continue to see the potential in New York, the amount of Wall Street skyscrapers being bought by Chinese investors should only continue to grow.
—Email heyden@brokerpulse.com
