Dubai Refugees Buying in New York

By Patricia W. CliffSenior V.P. and International Specialist Corcoran Group
In the past two months more than two dozen of my new clients in New York City--about 10 to 15 percent of my buyers--have been refugees retreating from failing investments in Dubai. These investors, stung by the recent collapse of the real estate bubble they had enjoyed overseas, are searching to park their money in a secure market that they can trust, often in new developments. To these buyers, New York City--particularly Manhattan--is an attractive alternative to Dubai. Investors can depend on the quality construction of its buildings and the consistent desirability of its location to lead to good returns.

via internationalpropertyjournal.com