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.