Yolanda Barnes, director of research for Savills, an organization that focuses on international real estate, comments:

There’s a great deal of interest in New York, which is seen as relatively cheap compared to other global cities.” As such, foreign investors who are looking for a new home, who need a vacation spot, or who work on an international level and want to set up a home base in the United States, are turning to New York City as a wonderful place to invest in luxury real estate at a fraction of the cost when compared to the price tags associated with other global locations, such as London.