In other cities, real estate demands ceases during economic bad times, but in New York City, the demand is constant. At The Real Deal’s first-ever U.S. Real Estate Showcase & Forum in Shanghai. Some of NYC luxury real estate on townrealestate authorities expressed that Chinese residential buyers may be price conscious, they do recognize the value of undertaking the New York City real estate and are increasing their compass in the market.
New development movement was mentioned by Fredrik Eklund, Douglas Elliman broker and star of “Million Dollar Listing New York”, stated that developers are creating spectacular buildings with incredible amenities and hotel living up in the sky. He also shared that he often tells his clients that they haven’t really made it in life until they’ve actually purchased an apartment in New York City,
Due to the city’s clean up efforts and viewed as being one of the safest big cities in America, makes a big difference in the way the city is now perceive which greatly adds to New York’s appeal. “It’s the next great city,” said TOWN Residential, CEO Andrew Heiberger, adding that most Chinese buyers were extremely price-point sensitive, looking to spend between $800,000 and $2 million for an apartment. Heiberger also noted that brokerage in New York City was far more regulated and transparent than in China. It was also mentioned at the Real Deal Real Estate Showcase that due to the protection of consumers in the U.S., there are strict regulations by the Real Estate Board of New York and the New York State Attorney General’s Office. Foreign buyers may find it tricky to obtain financing, therefore, it was expressed how important that they show up with lots of cash reserves when investing in New York City real estate.
TOWN Residential is a leading luxury real estate services firm in New York City. Founded in 2010, the firm has become an essential part of the New York real estate and has established a new standard of excellence within the real estate community, specializing in luxury residential properties. They have a team of professionals who have extensive experience and knowledge in residential sales, sales and leasing of property developments and marketing. TOWN Residential provides exceptional service and leads in the luxury real estate industry.