Foreign buyers in Manhattan

 

Bloomberg TV appearance, talked with Karla Palomo of El Financiero (Mexico and Latin America segment) about foreign buyers in Manhattan.

Wei Min on CNN, CNBC, Wall Street Journal

Another 5-star review achieved! So grateful.

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Buyer's Agent New York Property

 

Wei Min Tan represents foreign buyers from all over the world. Here is a summary of his role as a New York property buyer’s agent: identify, analyze pros and cons, negotiate, manage process, and rent out.

Read full article here: Buyer’s Agent New York Property

Rules for foreigner buying New York property

 

Manhattan is a top destination for foreigners looking to invest for asset diversification.  There is no special stamp duty for foreign buyers which makes Manhattan a better value compared to many global cities.  Here are the key rules for foreigners buying Manhattan, New York property.

Read full article here: Rules for foreigner buying New York property

February 2022 Manhattan Property Market Update

 

This February 2022 Manhattan Property Market Update shows that we are currently in a seller’s market. Supply is at a low which means prices are expected to go up.

Read full article here: February 2022 Manhattan Property Market Update

Transaction Costs: Manhattan Condominium

 

The transaction costs for a foreigner buying property in New York is the same as for a U.S. citizen.  There are no incremental taxes or stamp duties levied on foreign buyers, unlike in many countries that are trying to curb inflow of foreign investors.  A foreigner may decide to own under a more complex entity structure and this would incur additional expenses.  However, a local may decide on similar complex entities as well.

For the buyer, the all-in works out to around 6 percent of loan amount if there is mortgage financing.  If a cash purchase, it works out to around 2 percent of price.   For the seller, transaction costs amount to around 8 percent of price.

Read full article here: Transaction Costs: Manhattan Condominium

Benefits and Downside Risks of Buying Manhattan Property

 

Investors from all over the world have always been buying Manhattan, New York property as a means of diversification. London and New York are the top two destinations deemed most stable and secure for global investors wanting a simple, easy to manage property in the form of an apartment.

Before taking the leap, here are benefits and risks to consider.

Read full article here: Benefits and Downside Risks of Buying Manhattan Property

 

Walkthrough of client's new condo at 202 Broome St. Great finishings and quality! I'm very impressed.

Visit our website: https://www.castle-avenue.com/