According to recent reports, there are many who are hungry for some New York City real estate. Foreign investors of all types are looking more than ever to the United States and more specifically to New York City for industrial, commercial and multi-family real estate investment opportunities. Even after New York City fell from the top spot to London on the Association of Foreign Investors in Real Estate’s list of the hottest market of foreign investors, the Big Apple continues to be one of the most sought after properties across the globe. New York City lead other US cities such as San Francisco, Houston and Los Angeles. Even though all of these cities have their own unique appeal to international investors, there are few that can top NYC.
According to the Association of Foreign Investors in Real Estate, the members of this association feel as though the United States is the most secure and stable country for real estate investment opportunities by a significant margin. Those who have responded to a survey from the association also revealed that they believe the United States is the best market for capital appreciation on their property purchases. Beliefs such as this have only driven the number of sales for the New York City market and will only continue to drive numbers in the future, according to experts.
These beliefs can also be backed up by some big numbers as well. According to recent reports about US real estate, foreign buyers have already purchased about $68.2 billion worth of single-family homes in the United States. What this means is that approximately 7% of all home sales in the past twelve months were purchased by foreign investors. These reports were delivered by the National Association of Realtors’ survey on foreign buyers. The info on the popularity of foreign investors is not exactly new information for those who have followed New York City real estate or those who pay close attention to the US real estate market. However, it is surprising for many just how much real estate in the United States and in NYC is actually owned by foreign investors.
As for the future, most professionals in the industry expect that these numbers will only continue to grow, not only in the United States as a whole but in NYC as it continues to be a booming hub for international business.
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