Monday, March 20, 2017

Interest in NYC Real Estate Being Swamped by Russians, TripleMint Data Show


The never-ending quest for the perfect apartment in New York City could be getting that much tougher, new data suggests, thanks to new competition for scarce supply from other parts of the world—and one surprising country in particular.

Newly released figures from TripleMint, a residential real estate start-up based in New York, points to a shift in the countries most interested in buying into the city's active housing market, which attracts more than its fair share of domestic and international buyers and remains one of the world's priciest.

Over the course of 2015 and 2016, the company tracked the location of visitors on its website hunting for housing, ranking countries by a percentage of total foreign searches for that year, and compared the results. It found the biggest mover was Russia, which jumped from #20 on their top searchers list in 2015, to #2 last year, landing just behind the United Kingdom.

Click here for the full article.

Source: CNBC (via The Empire Report)

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