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London, NYC, and a handful of other cities around the globe attract "investment" in real estate from "foreign investors".  Some of these "investors" may be simply parking money -- using the property as a means to get the cash out of their native currency and "hide" the asset itself.  Pick your favorite billionaire from Russia, china, Africa, or Latin America.  Some  are "cycling" money.  It has been suggested that they may be  "laundering" money but, that is a question for another day.

 

given this "cycling" , ultra high-end real Eastate in NYC will likely continue.  Oh, and the apartments that they buy may never be lived in during their ownership.

 

 

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29 minutes ago, SirJac said:

It's a world economy and real.estate is a part of every economy in the world. Everyone knows that New York City, especially Manhattan, is prime.

1) who is "everyone" and

2) what does "prime" mean?

 

in your opinion and based on your research, who/what is driving the expanding "ultra high priced" properties in NYC?  Your analysis may help the person who started the thread gain more insight.

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From what I have heard, shell companies. This makes it hard to determine exactly who, and from where, are buying.

 

As far as what is driving the prices up? It doesn't really matter where these investors are from, what matters is they are paying top dollar. All it takes is a few buyers who don't squabble about the prices to get this ball rolling. Soon, everyone with the cash it takes to buy more will do so at the asking price, which slowly goes up when the demand does.

 

Economics 101, supply and demand, in action on a billion dollar scale. This has been going on for at least a year now.

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