How investing in New York’s next hottest area provided handsome returns for our clients

By Wei Min Tan

The 16-acre World Trade Center site has been the hottest upcoming development and the pinnacle of Downtown’s revitalization in New York for the past decade. 

Chinese investors buying New York property

Chinese investors have been aggressively buying up Manhattan New York property in the past year.  I have been interviewed by CNN (Foreigners scoop up U.S. homes), New York Times (China's Wealthy Buying Condo Apartments) and Bloomberg on the topic and thought I'd do a summary of the trend in this blog post.


Overall, there is fear of a double dip in the US economy and the fear is reinforced by current news about the European debt crisis.  China's property market is beginning to slow and it seems there are few safe havens for investment.  Manhattan, New York property may be one of these few safe havens.  Chinese investors observed New York's price stability from the prior recession and view now as a time to enter the New York market while prices are recovering.

Foreign buyer - Buy a house, get a U.S. visa

Senators Charles Schumer (New York) and Mike Lee (Utah) are proposing a bill that gives foreign buyers a U.S. residence visa if they spend $500,000 cash in a property.  The visa does not allow them to work in the US but allows them to live here in the US as long as they own the property.

Foreign Investor New York Property

1.0 Overview for the foreign investor

1.1 Why New York

1.2 Can foreigners buy property in Manhattan, New York?

1.3  What type pf properties are popular amongst foreign / international buyers?

1.4  What are expenses associated with owning a property in Manhattan?

1.5  Financing for foreign / international buyers

1.6  Cash buyers

1.7  Transaction costs

1.8 Taxes, taxes, taxes

1.9  How does the agent / broker fee work when buying or selling?

1.10.  How does the agent fee work when renting?

1.11  Should I use more than one agent?

1.12 What are the best areas in Manhattan for investment?

1.13  Does buyer have to be in New York for the closing?