From the October issue: New York City real estate is never short of mantras and catch phrases, but few have taken hold of the industry’s collective mind like “safe haven.” Seemingly no conference, panel discussion or research report can do without these two words. The notion that the New York market is a “safe haven” for foreign investors fleeing economic turmoil has become a guiding ideology for developers, investors and brokers from the Bronx to the Battery.
Regardless of whether that claim actually has merit, it’s based on an undeniable trend: the significant growth in foreign investment in the Big Apple’s real estate market in recent years. And, many of these new investors are drawn here by the city’s comparatively stable prices, relative liquidity and easy accessibility. [more]