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.

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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.

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]