After years of decline, international buyers are once again shaping New York City’s real estate market in 2025. In the first half of the year, there’s been roughly one foreign buyer for every two foreign sellers—the best ratio since 2020. Last year, that number was far worse, with over three sellers for every buyer.

Sales to foreign buyers have doubled in volume compared to 2024, with most interest coming from Asia. Buyers are focusing on new developments in Brooklyn and Queens, attracted by luxury amenities and the opportunity to move capital out of their home countries.

China’s economic slowdown and real estate crash have accelerated this trend. At some developments, developers are even accepting payments in renminbi to simplify transactions.

Despite international tourism slowdowns and new U.S. tariffs, wealthy individuals continue to view New York as a safe asset compared to more volatile global markets. The city’s luxury market remains resilient, with strong contract activity for homes priced over $4 million.

(source: The Real Deal, picture: Adarsh Chauhan)