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Global homebuyer hot spot: New York County, N.Y. (Manhattan)

Inman News special report excerpt

Editor's note: This report on the New York County, N.Y. (Manhattan) market is an excerpt from a special report by Inman News reporter Andrea V. Brambila, "10 Hot Spots for Global Homebuyers" identifying the 10 markets with the greatest share of buyers with a foreign mailing address in the public record between May 2011 and January 2012. A recently released report from the National Association of Realtors found New York was the sixth most popular state in the U.S. for international sales in the 12 months through March 2012. Nearly 4 percent of homes purchased in New York County, N.Y., between May 2011 and January 2012 listed a foreign mailing address on the property deed, according DataQuick. New York County's borders are identical to those of Manhattan, one of the five boroughs of New York City, including Manhattan Island and several small adjacent islands. Per DataQuick’s analysis, foreign buyers did not account for even 1 percent of homes sold during that period ...