NEW YORK, Feb. 19, 2015 /PRNewswire/ -- In the last few months investors from the UAE have increased their property holdings in New York City considerably - a new investment trend is emerging.
One of the reasons is exclusivity: "Only a few thousand condominium units are available for sale every year in Manhattan," explains Thomas Guss, President of New York Residence Inc. The company is specialized in working with investors from all parts of the world and has seen a significant increase in interest from the UAE. "More and more investors from the region want to balance their local portfolios with assets in one of the most safe and stable real estate markets in the world," says Guss.
Additional comfort comes from the free flow of funds into and out of New York and the absence of currency risk—the Dirham is pegged to the US Dollar. And New York is one of the world's capitals for finance, publishing, advertising, fashion and technology.
Most recently, New York City has seen more new technology start-ups than any other major city in the United States. Leading companies such as Google, LinkedIn, YAHOO, Microsoft and Facebook all established corporate headquarters in Manhattan to draw the top talent that refuses to live anywhere but New York City.
These developments have caught the attention of investors worldwide as they suggest a rapidly increasing need for additional commercial and residential space.
And it is not only the investment segment of the market that is in strong demand: Manhattan is also one of the most interesting places in the world to live. Most of the world's elite owns at least a second home in the city. The best of these homes cannot simply be bought but are traded privately with the help of specialized brokers such as New York Residence. Even those who have it all count a New York address among their most prized possessions as it shows a level of sophistication and accomplishment that no other place on earth provides.
With a record level of interest from the UAE, New York Residence will participate in the International Property Show at the Dubai World Trade Center from March 30th to April 1st. Private appointments in Dubai with Thomas Guss and his colleagues Aurora Azar and Neil Foresto can be arranged in advance by sending an email to tg@nyr.com, aurora@nyr.com or neil@nyr.com. A sample selection of properties can be found on the company's website, www.NYR.com, and there is more: New York Residence's clients have free access to all of New York's exciting property opportunities.
CONTACT: Thomas Guss, +1-212-360-7000 x103
Share this article