Chinese Buyers In Manhattan’s Condo Market

Posted by Wei Min Tan on October 30, 2017

Publication:  Commercial Property Executive

 

Summary:  Wei Min Tan interviewed on foreign buyers from Asian coming to invest in Manhattan property.

 

Wei Min’s comments in article:  

While Manhattan remains the crown jewel of real estate investment worldwide, not everyone can afford the pricey luxury.

To some affluent foreigners, however, the Big Apple is still a bargain compared to some other cities, especially the Chinese, who have been buying up New York condominiums in larger numbers the past three years, according to Wei Min Tan, a broker at Manhattan-based Rutenberg Realty, who specializes in Chinese and Asian buyers.

“Traditionally (Chinese buyers) have been going to California, just because its closer, but now it’s natural for them to come to New York, because it’s a much stronger brand,” he told Commercial Property Executive. “For high-net worth individuals who want to get a piece of the most blue-chip cities, it’s always New York or London, but London is a lot more expensive than New York.”



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New York, NY 10022





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Wei Min Tan is a property broker focusing on Manhattan, New York luxury condominiums and foreign buyers. He is often interviewed by the media including CNN, The New York Times and The Wall Street Journal on the subject of foreign buyers of Manhattan property.