I am a Cantonese Chinese speaking property agent in Manhattan, New York serving foreign and international investment property buyers. Our clients include investors from Hong Kong, Singapore, China and Malaysia.
Our clients usually purchase investment condos in new developments in Manhattan because Manhattan has shown to be an asset that sustains its value, despite the current recession. For example, Manhattan prices decreased by about 20 percent during the current recession. This decline is much lower than the declines at similar major cities such as Los Angeles and San Francisco where prices declined by 40 to 50 percent. Manhattan prices are also more stable relative to stocks where in 2008, prices declined by 40 percent.
Reasons for our clients' purchases include:
(i) taking advantage of the current downturn
(ii) purchasing residence for children attending college or university in Manhattan, such as at New York University or Columbia University.
We also represent clients purchasing commercial investment property in Manhattan, including mixed use buildings and commercial condos. Besides Cantonese Chinese, I also speak Malay, the national language of Malaysia.
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