Nation-building, for NYC real estate

From the November issue: Foreign nationals buy homes in New York City for a plethora of reasons: the culture, their children, America’s political openness and, lately, the relative economic stability of the city’s residential real estate market.

Below, The Real Deal takes a look at the economies and currencies of 10 nations that send significant numbers of buyers to New York, according to brokers, research reports and numbers from new development marketers.

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Perhaps the most active new foreign buyers are coming from the emerging markets of Russia, China and Brazil, where individuals are using their increased purchasing power to snap up pieds-à-terre and homes for their college-bound children at some of the city’s most high-profile properties. [more]