Wei Min quoted in Slicing The Apple – Foreigners Fuel New York

Posted by Wei Min Tan on October 30, 2017

Publication:  Cooperator

 

Summary:  Wei Min interviewed by The Cooperator about the foreign buyer market as sales from overseas buyers amounted to $82 billion, up from $66 billion.

 

Wei Min’s comments in article:

According to Wei Min Tan, founder of Castle Avenue Group within Manhattan-based Rutenberg Realty, upwards of 50 percent of his clients are foreign. “About four years ago, a lot of foreign buyers were European,” he says. “But that’s tapered off a bit because of the European debt crisis.” Tan now sees an uptick in interest from both China and Brazil.

“In the emerging markets, one of the first things people want to do when they get rich is visit New York,” says Tan. He notes that for many years, the real estate holdings to have were in London, but that attention and prestige began to shift toward New York about 35 years ago.



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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.