DNAinfo interviews Wei Min in Pool Of Foreign Buyers Drying Up
Posted by Wei Min Tan on October 30, 2017
Publication: DNA Info
Summary: Volume of foreign buyers decreasing as U.S. dollar strengthens.
Wei Min’s comments in article:
Weimin Tan, of Rutenberg Realty, said his clients from China want to park their assets here because of government instability, bad air quality and because they want to send their children to college here. He has also seen an influx of buyers from Hong Kong since the protests there started.
Some of his clients are also eyeing the U.S. government’s EB-5 visa program, which grants greencards to investors who put $500,000 into development projects like Hudson or Atlantic Yards.
“High net-worth people in China [are] looking to leave,” Tan said of the country that might be experiencing a real estate bubble. “China has been slowing down economically.”