WSJ refers to Wei Min’s deal in Foreigners Snapping Up U.S. Properties

Posted by Wei Min Tan on November 14, 2017

Publication:  Wall Street Journal


Summary:  The Wall Street Journal’s Nick Timiraos writes about foreigners picking up U.S. properties as prices in the U.S. have been sliding while the U.S. dollar is weakening.  The dollar’s weakness against certain currencies is driving buyer demand from Asia, Canada and Latin America.  The concept of investing in property may seem risky to Americans but to savvy foreigners this is a prudent strategy.  International buyers accounted for 8.9 percent of real estate transactions in the analyzed period.


Wei Min’s comments in the article:  To show the foreign buyer frenzy in the Manhattan market, Wei Min gave an example of a client who lost out to a different foreign buyer for a $1.6 million condo in the Financial District.  Foreign buyers realize Manhattan prices are not going lower.

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About Wei Min

  • Focuses on investors of Manhattan condominiums, interviewed by CNBC, CNN, Wall Street Journal, New York Times
  • Ex-Citibanker, managed $500 million portfolio
  • MBA, University of Illinois at Urbana-Champaign
  • Manhattan resident since 1999. Currently lives in Tribeca with wife and 2 kids
  • 352 burpees in 23 minutes, student of muay thai kickboxing

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