The Covid-19 pandemic has made it almost unrealistic for international investors to purchase real estate in New York City and the United States in general. Either because of some objective impediments such as travel restrictions or uncertainty about what would happen at the market level, especially luxury and high-end investments.

However, some real estate agents, including us, are seeing a rebound in international interest.

With the easing of restrictions and pandemic measures, overseas buyers are enticed by the idea of getting discounts and the feeling that this window of time is already closing. In fact, according to the consistently excellent report by Miller Samuel, the average selling price of apartments in Manhattan has already increased by 12% in the last quarter.

This year, some of the most notable investments were made by international buyers; for example, Joe Tsai from Alibaba, a Taiwanese and Hong Kong citizen, was recently revealed as the buyer of two units at 220 Central Park South, a total spend of $157 million for what is currently the most significant residential sale of the year.

A Centurion Real Estate Partners administrator told the New York Post that 212 West 72nd Street, one of last year’s most expensive condos, saw a 33% increase in international traffic during the first half of the year.

However, someone isn’t convinced that the pool of international buyers is entirely back, some potential buyers may not feel comfortable returning to the United States, again given the pandemic situation, but the first signs of a return are there. So we’ll wait, convinced that the appeal and solidity of the New York City real estate market will still attract investors from all over the world.

(source: therealdeal.com, nypost.com, millersamuel.com picture: precondo-ca)