An article in today's NY Times describes an increasing number of foreign investors and buyers that are looking for property in Manhattan.
One of the reasons behind the influx of foreign buyers is the increasing number of new condominum projects in New York City. In the past, foreign buyers that were looking for co-op's did not have credit histories in the United States or did not intend to use their apartments as primary residences. As a result they had trouble being approved by co-op boards. Approval by the board of a co-op is not an issue when purchasing a condo.
Foreign investement of New York properties are coming from all parts of the world including: Australia, Korea, Russia, Israel, Italy and Colombia.
3Dwalkthroughs.com believes that due to the increase in foreign real estate investors, the need for highly detailed and realistic marketing materials is even more critical than ever.
The internet allows people anywhere in the world to view 3D Walkthroughs, 3D Renderings, and 3D Floor Plans online and allows them to get a very good sense of all the features a New York City property has to offer. When they finally travel to Manhattan to visit some possible investment properties, they will have been able to narrow their choices to a few that meet their criteria.
It is very important for brokers that represent condo properties in Manhattan to know all the 3D assets they have at their disposal as well as the ways they can bring them to the foreign buyers attention.
The NY Times article can be found here>>>
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