Monday, June 20, 2011
Chinese buyers New York property
Chinese Buyers Trickle into New York real estate - The Real Deal
Interviewed by The Real Deal on Chinese buyers of New York luxury property. A large portion of our clients are foreign buyers from Asia - China, Hong Kong, Singapore, Korea.
Key notes on our Asian/Chinese buyer segment include
* Preference for new buildings with good amenities
* Buying in New York because prices in Hong Kong/China are in bubble territory
* New York is cheap on a global level
We are currently expanding marketing efforts to serve the Chinese buyer market. One observation is that many foreign clients seem to buy in buildings that locals do not want. Agents bring foreign clients to certain buildings because of the "Wow" factor of the amenities, and buyers fail to ask the right questions, including supply and demand. This is why having the right agent is crucial especially for foreign buyers.
Visit us at Castle Avenue Partners - Manhattan investment property