By Wei Min Tan
Our clients, who are successful business owners or corporate executives from around the world, invest in Manhattan, New York property for diversification and long term stable asset growth. To this end, Manhattan, New York property, given its stable appreciation trend over time, meets the objective very well.
As we often explain to buyer clients, Manhattan property will not appreciate 50 percent a year like in certain emerging countries. This is because Manhattan, New York is not a speculative market. About 70 percent of buyers in Manhattan are locals, buying property to live in. This makes market prices stable. A market becomes volatile when majority of buyers are investors and even more volatile if these investors are from one or two countries.