Knight Frank says investment into the US from the Middle East has more than doubled in the past year, accounting for 15.4% of all global deals
Demand from Middle East investors for US real estate has intensified over the last year, bolstered by the continued strength of the US dollar, according to new research.
Richard Jordan, senior vice president of Global Markets at Douglas Elliman added: "US cities like New York City are among the strongest real estate markets for foreign investment for several reasons. The current state of the global economy coupled with increased geopolitical uncertainty have negatively impacted a vast number of other prime markets.
Properties featuring access to luxury hotel services are even rarer and constitute the most premium options at the top of the Manhattan condominium market.
TLiam Bailey, Knight Frank’s global head of research, said: “Middle Eastern investors have long been a critical component of the US property sector. The data we have assessed here considers the whole investment market – residential and commercial – and reveals the recent growth in demand from the region into the US.