It is easy to see why the American real estate market continues to garner plenty of attention from foreign investors. The United States is an ideal location because of its strong real estate market, strong currency, and safe and stable returns.
The spotlight, however, is on New York City. As a prominent location for commerce, culture, and the arts, property in the city has always been in-demand for foreign buyers and investors. The enormous supply and demand is favored by long-term growth and home appreciation value. Immigration consultants from EB5Link.com say that it is ideal for investors seeking permanent residence in the country.
China tops the foreign investment board in New York City real estate, as the central government is encouraging the Chinese to invest overseas. The steady stream of Chinese immigrants coming into the US is mainly because of the increased access to credit, favorable exchange rate, and desire for secure investment opportunities.
The Biggest Buyers
Although China is the most active group in the real estate investment sector, Canada is the largest investor in US property of all asset classes. Furthermore, the Canada Pension Investment Board has entered a joint venture with Vornado Realty Trust, paying $108 million. Canadians make up about 25 percent of all foreign investment purchases in the US, making them the biggest foreign buyers.
What About Europe
According to Bloomberg News Report, Norway is the second most active foreign buyer of US real estate. Reports said that the country’s $870 billion sovereign-wealth fund acquired properties in New York and San Francisco. A research from Wealth Capital Analytics revealed that Norway spent more than $3.2 billion on US real estate. This is way more than what the country spent overall last year.
There are plenty of properties to invest on in New York City. There is a wealth of condominiums, townhouses, and co-op units. Whatever the reason for investment is, foreigners need to follow the right process in purchasing and registering property rights.