The rebounding housing market in the United States – notably in pricey markets such as Manhattan’s luxury condos – is finding fans in wealthy Singaporeans.
New projects with top-of-the-line finishes and expansive views as well as hotel-like amenities and services, are a big draw now, real estate agents told The Sunday Times.
Comprehensive statistics on purchases by Singaporeans are not publicly available in New York City records. Anecdotally, however, property agents said they have seen a tenfold increase in purchases by Singaporeans compared to two years ago.
In contrast to US buyers who are lured by the current historically low interest and mortgage rates, Singapore buyers always make their purchases in cash, said the heads of some of New York’s largest residential brokerages.