NYC real estate is drawing buyers from China. From the Bronx to Brooklyn and from Harlem to Manhattan, the buyers are coming thanks to Town Residential’s presentation at the first United States Real Estate Showcase & Forum in Shanghai. Believing that if you own an apartment in New York City your life is a success, the Chinese are scouring the boroughs in search of a perfect property to fit their budgets. Their searches are in the $800,000 up to two million dollar price range, and with New York’s clean up, and safer streets making the city’s market more attractive, the word is spreading throughout China and the world.
In New York City, transparency and regulation help draw the Chinese buyers because in China, the market is not as open and protected. The Chinese are bringing in heavy cash reserves because financing is harder to acquire for foreigner buyers. Across the world real estate prices rise and fall, but they hold firm in New York City, which is a big draw to foreign buyers. The outlying boroughs are a big draw, and they offer more for the buyer’s money than prime Manhattan properties. The Chinese are buying older buildings in many cases, and they are really turning them into something special.
City real estate developers met with city officials to discuss the new market opportunities, and talk wandered to their idea of dream homes. Andrew Heilberger, founder and CEO of Town Residential said his dream home is the space occupied by Taylor Swift at the Franklin Square properties. Town Residential specializes in luxury real estate with Citi Habitats. Buttonwood Development, Twenty Exchange, the Charles and the ICON as model developments. Town Residential’s success in the market is due to Mr. Heilberger’s policies of transparency and communication with their clients. His staff is easy to contact, and they are even available via social media, and Mr. Heilberger emphasizes his policies on transparency and communications start with him then move down through the company. Town Residential’s sales stand at $960,000,000 in New York City Market making them a leader in the New York City real estate industry. While real estate prices fluctuate across the globe, Mr. Heilberger believes that the real estate market in NYC is solid.