Chinese Could Spend $50 Billion on New York City Real Estate Over Next Several Years

 

The Chinese have been entering the NYC market big time:  2014 eclipsed $3 billion, an increase of 43% from 2013 sales. This is only the beginning.  Over the next few years, as much as $50 bn will be invested in NYC by Chinese investors.  For example, last year Anbang Insurance paid a record breaking cash price of $1.95 bn for the Waldorf Astoria.  Insurance companies in China have been given the go-ahead to spend $1.6 trillion on property:  let the games begin!

Read the entire article at The Street.