Foreign Buyers Fuel NYC’s Luxury Market Revival in 2025
Foreign Buyers Fuel NYC’s Luxury Market Revival in 2025
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July 10, 2025 | New York City
International investors are making a strong comeback in New York City’s residential real estate market, according to recent data analyzed by The Real Deal. In the first half of 2025, foreign buyer volume has doubled year-over-year, reversing the slowdown that began in the years leading up to and during the COVID-19 pandemic. For every two international sellers, there is now one international buyer—the most favorable ratio for buyers since early 2020.
Much of this renewed interest is coming from Asian investors, particularly Chinese nationals. Agents from firms like Serhant and Douglas Elliman report that foreign buyers now account for a large portion of weekly showings. Projects like Williamsburg Wharf, The Huron in Greenpoint, and The Vesta in Long Island City are seeing a steady flow of overseas traffic, with some developers even accepting renminbi to streamline transactions for Chinese clients.
The appeal? Prime New York real estate is seen as a stable investment amid global uncertainty. While China's housing market struggles and capital controls tighten, New York’s luxury condos—with their top-tier amenities and relative affordability—offer both security and prestige. A notable example includes a $4.2 million purchase at The Huron by a Japanese entrepreneur intending to use the condo just one month per year.
Despite global tensions and declining tourism from places like Canada, the U.S. remains a preferred destination for wealthy individuals relocating capital. In fact, America saw the second-largest inflow of millionaires globally this year, just behind the UAE. As one broker put it: “Every billionaire wants a place in New York.”
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