Publication:  Business Insider

Summary:  New York City is a top city for high net worth global property investors because of the brand allure, high demand and stability.  However, buyers still need guidance before taking the plunge.  Business Insider journalist Megan Willett interviews Wei Min in this article about the 5 things to do before one invests in New York real estate.  For example, knowing the difference between a Condo vs a Coop, knowing the neighborhood and seeing the property for yourself before buying.

Wei Min’s comments in article:  New York real estate is perhaps the most transparent in the world.  Everyone has the same access to inventory.  In many countries, separate brokers hold access to specific inventory but this is not the case in New York.

Wei Min also talks about foreigners only knowing locations like Times Square, Fifth Avenue and Wall Street, but these may not be the best choices for investment.  In addition, seeing the property from a buyer-focused objective is very important.  Some of his clients buy without being here to view the property but it’s because Wei Min views on their behalf and they can participate in the viewing virtually through online video.