- Foreign buyer activity in NYC doubled in early 2025 compared to the same period last year.
- Asian investors, especially from China, are driving demand for new luxury developments.
- Developers are adapting by accepting renminbi and offering high-end amenities to attract overseas buyers.
Foreign Demand Returns
According to The Real Deal, international investors are breathing new life into New York’s luxury real estate market. While domestic sales remain slow, foreign buyers have doubled their volume since 2024. According to The Real Deal, this marks a major shift in buyer-seller dynamics.
So far in 2025, there has been one foreign buyer for every two international sellers. That’s the closest balance since early 2020. Just two years ago, there were 3.6 sellers for every international buyer.
Where the Money Is Coming From
Peter Zaitzeff of Serhant says he’s seeing a major surge in foreign interest. He’s leading sales at Williamsburg Wharf and 200 Amsterdam. Of his 20 weekly showings, about 15 involve foreign clients.
Most of that interest comes from Asia, especially China. Kayla Lee, also at Serhant, has seen similar patterns at The Huron in Greenpoint and The Vesta in Long Island City.
“We’ve had steady traffic, especially from Chinese buyers,” Lee said. “The Chinese economy is slowing down, and many want to move money out of the country.”
Product and Preferences
At The Vesta, foreign buyers have purchased nearly a third of the units since sales began in April. Century Development Group, the project’s sponsor, even accepts Chinese renminbi. This helps buyers avoid currency transfer issues.
Zaitzeff said international clients want new construction, top-tier amenities, and modern finishes. They’re also willing to look beyond Manhattan for the right product.
One of The Huron’s top deals this year went to a Japanese business owner. He paid $4.2M for a 1,600-square-foot condo with a large terrace. He plans to use the apartment one month a year.
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Global Trends Driving Sales
The demand comes as China’s housing market faces serious declines. In May, residential sales dropped more than 6% year-over-year. Meanwhile, the US saw the second-largest millionaire inflow in 2025, just behind the UAE, according to Henley & Partners.
China and the U.K. had the biggest millionaire outflows.
Still a Safe Bet
Despite US political tensions and new tariff policies, foreign buyers see New York as a safer investment. Kane Manera of Corcoran, who recently traveled to London to promote Central Park Tower, said NYC still offers relative value.
“There’s uncertainty in the US,” he said. “But compared to the U.K. or China, New York is still a stable choice.”
Douglas Elliman’s George Vanderploeg echoed that sentiment. He recently sold a $10.5M townhouse on the Upper West Side to a couple from London. Two of his last four deals involved foreign buyers.
“Every billionaire wants a place in New York,” he said.
Why It Matters
International buyers are helping hold up NYC’s luxury market at a time when the broader housing market is soft. Their interest is not only propping up sales but also shaping what developers build and how they market it.
What’s Next
With rising global wealth migration, foreign investment in New York is likely to grow. Developers may increase outreach abroad, offer more payment flexibility, and tailor buildings to suit global buyers’ tastes.
The luxury market’s momentum in 2025 may be just the beginning.
