Chinese Investments Dropped Sharply Across NYC And Nationally in 2018
Posted by Anthony Licciardello on
In the Staten Island market, Chinese buyers have shown the most interest in properties near the Verrazano-Narrows Bridge
Foreign investment activity can be a litmus test for the real estate market conditions. And lately, it has practically slowed to a crawl.
Over the past several years in New York City, real estate has been heavily propped up by Chinese investments. This has been a major vehicle driving more intense bidding wars and rising prices, particularly through the period of 2015-2017.
The New York Metro area has the largest foreign buyer pool in the United States. While the city has long been known for its high-priced real estate, foreign capital has been instrumental in pushing values to record highs over the past five years.
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