|By PR Newswire||
|September 6, 2012 08:00 PM EDT||
NEW YORK, September 7, 2012 /PRNewswire/ --
Buying real estate in Manhattan is easier than foreign investors realize, according to Manhattan Miami Real Estate. The real estate agent has produced a series of online guides to aid foreign buyers and empower them to invest in NYC luxury property which continues to see steady price increases.
Many foreign investors raise questions about whether it is even possible to buy property in the US and what the tax implications may be. However, there are often simple answers such as recommending a condo over a cooperative or that overseas investors are subject to the same taxes as US residents when purchasing real estate.
Some of the most frequently asked questions by overseas buyers are:
- Can a foreigner buy property in the US?
- When buying/selling a property in New York City, what taxes does a foreigner need to pay?
- What is FIRPTA?
The answers to these questions and the information potential investors need to know before buying real estate in Manhattan, are answered by Miami Manhattan Release Estate in their easy to understand FAQs.
Ricardo Mello, Co-Founder of Manhattan Miami Real Estate says "Foreign interest in US real estate, particularly Manhattan, is growing and we're finding that there are a significant number of investors who think it's much more complex to invest than it actually is. So we've taken steps to answer the most common questions to equip potential investors with the answers they need.
"Together with our personalised service, these FAQs about the practicalities of buying enable foreigners to take the next step of investing in luxury real estate in Manhattan, which is currently seeing steady growth in prices and demand.
"Manhattan draws foreign investors from across the globe. With luxury property in NYC currently around half the price of other world class cities like London or Paris, we want to show overseas investors just how easy it is to purchase real estate in New York."
The current global economic turmoil, the ongoing eurozone crisis, low returns on other forms of investment and the US dollar in a six-year slump are widely reported as being the drivers of foreign buyers' interest in American real estate.
In response to increasing international investor interest in Manhattan luxury real estate, Manhattan Miami Real Estate has launched new websites for French, Chinese, Korean and Portuguese audiences.
To find out more about the FAQs and online guides, and latest developments and opportunities in the luxury real estate markets of Manhattan & Miami, visit www.manhattanmiami.com
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