Manhattan rewards mainland Chinese, Hong Kong investors as prices of luxury property rebound in busiest year since 2006

Investors who picked up Manhattan’s luxury properties during the Covid-19-induced slump have been rewarded as prices recovered in the market’s busiest year since at least 2006. That is music to the ears of mainland Chinese and Hongkongers, who are among the most active foreign buyers.The average price for a luxury property rose to US$8.5 million from US$7.9 million in 2021, according to a report published by Olshan Realty. The city recorded 1,877 transactions worth US$15.9 billion for…

Manhattan rewards mainland Chinese, Hong Kong investors as prices of luxury property rebound in busiest year since 2006
Investors who picked up Manhattan’s luxury properties during the Covid-19-induced slump have been rewarded as prices recovered in the market’s busiest year since at least 2006. That is music to the ears of mainland Chinese and Hongkongers, who are among the most active foreign buyers.The average price for a luxury property rose to US$8.5 million from US$7.9 million in 2021, according to a report published by Olshan Realty. The city recorded 1,877 transactions worth US$15.9 billion for…