The Edge interviews Wei Min in Cover Story, Resilient Manhattan

Posted by Wei Min Tan on October 29, 2017

Publication:  The Edge Malaysia

 

Summary:  Wei Min Tan, Manhattan property broker originally from Malaysia, interviewed by The Edge, Malaysia’s leading independent business magazine.

This article is about Manhattan’s resiliency amid the Great Recession.  Since Manhattan is land-locked, the price decline in Manhattan was about 15 percent, compared to the U.S. average which experienced a decline of 35 percent.  The relatively lower decline in Manhattan is because of:

(i) a large percentage of Coops where financials of potential buyers are heavily scrutinized.  Hence buyers who are less financially strong would not be approved by the board.

(ii) higher income profile of buyers.  Manhattan’s buyers have higher incomes and credit score compared to rest of the U.S.

 

Note:  The URL of the article is no longer available online.



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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.