NYC Claims #1 Spot as Preferred U.S. City Among Foreign Investors

Overall U.S. foreign investment accounted for 18% of total sales dollar volume in the Q1 2023, representing the highest level since 2015 according to Real Capital Analytics (RCA) data. Fueling the increase in activity are some foreign investors that “have stepped up their game and are taking advantage of this challenging marketplace.” Canadian buyers led the way during the past 24 months, accounting for 41% of purchases made by the top 20 foreign investors. Foreign investment in New York City more than doubled year-over-year in Q1 2023, increasing from 5% to 12% and accounting for $1,881,857,688 in sales dollar volume according to the Q1 2023 Pulse Report by the Association for International Real Estate Investors (AFIRE). Among the top 20 foreign investors Korea was the most active in New York City, accounting for 31% of the purchases. In contrast, China accounted for a mere 2% of the purchases during the last two years, representing a significant decline in activity in New York City from the nearly one-third percent in the past. Overall investment sales have slowed, but looking ahead, “there is a potential upside for those who can enter a market now and wait for it to recover” — particularly in places such as New York City that have historically performed well.

Source:    https://rew-online.com/foreign-investment-increases-in-u-s-with-new-york-city-attracting-most/