Global Real Estate Summit NYC on October 2 Will Shine Light on Foreign Investment in U.S.
Real Estate In-Depth | September 2017
NEW YORK—The timeliness of this year’s Global Real Estate Summit NYC is significant, as the event is set to take place amid skyrocketing foreign investment in U.S. residential real estate. According to a recently released report from the National Association of Realtors, growth within the commercial sector is promising, as well.
Backed by the premier sponsorship of NAR, the 2017 summit is organized by two of New York state’s most prominent real estate organizations—the Hudson Gateway Association of Realtors and the Staten Island Board of Realtors—who are co-presenting the symposium with a mission of “Building Bridges, Crossing Borders to Expand Real Estate Markets.” Now in its 11th year, the daylong event will be held on Oct. 2 at the New York Marriott Marquis in Manhattan.
“This is our first year participating in this exciting event and we are looking forward to providing a wealth of valuable information for all of our members in the Hudson Valley and Manhattan,” said Richard Haggerty, CEO of HGAR.
“The tools and resources available to real estate professionals for bolstering their ability to succeed is constantly changing,” said Sandy Krueger, CEO of SIBOR. “The international aspects of real estate may be harder to master than more traditional skills—but for those who do, the opportunities are endless. This conference is about learning how to identify and use those tools and resources to be a more successful practitioner.”
The summit is expected to draw more than 500 attendees, including visitors, presenters and vendors. The event will feature more than 25 speakers and participation by prominent global real estate professionals, such as: top brokers, investors, developers, legal and technology experts, and government officials addressing issues impacting the international real estate market.
The Summit Keynote – Remaining Globally Aware Increases Your Business, will be presented by Paul Boomsma, President, Luxury Portfolio International, COO, Leading Real Estate Companies of the World.
Summit speakers are associated with a variety of notable businesses and organizations, such as: American Homes Group; Sotheby’s International Realty; Brown Harris Stevens Residential Sales; Wells Fargo Home Mortgage; China Construction America; Global Property Systems; Global Properties Realty & Investments; The Jills Group; Douglas Elliman Real Estate; HomeSmart Connect; ECI Development; NAR; Bespoke Global Property Group; RE/MAX; Century 21; BLOC Residential Corp.; Compass; Christie’s International Real Estate and the New York Wheel.
Summit sponsors include a variety of distinguished organizations and enterprises, such as: Wells Fargo Home Mortgage; New York State Association of Realtors; HSBC; RE/MAX; Freedom Mortgage; Empire State Bank; The Nicotra Group; Dolgetta Law; ShowingTime, and the law firm of Merlino & Gonzalez.
The Oct. 2 conference will take place from 8 a.m. to 5:30 p.m. at the New York Marriott Marquis, 1535 Broadway, Manhattan. The event includes a day filled with information and networking opportunities for real estate professionals and entrepreneurs seeking to work with foreign buyers.
U.S. Attracts International Buyers
According to NAR’s recently released 2017 Profile of International Activity in U.S. Residential Real Estate, foreign investment in U.S. residential real estate has skyrocketed to a new high.
The survey found that between April 2016 and March 2017, foreign buyers and recent immigrants purchased $153 billion of residential property, which was a 49% jump from 2016 ($102.6 billion) and surpassed 2015 ($103.9 billion) as the new survey high. Overall, 284,455 U.S. properties were bought by foreign buyers (up 32% from 2016), and purchases accounted for 10% of the dollar volume of existing-home sales (8% in 2016).
In the commercial sector, 47% of Realtors reported an increase in the number of international clients over the past five years and 40% reported they are confident the increased sales and leasing activity will occur in 2017, according to NAR’s recently released 2017 Commercial Real Estate International Business Trends report. “Realtors in many middle-tier and smaller markets stand to benefit from the increased interest from foreign and domestic commercial property investors,” NAR’s Yun stated.
For tickets, exhibitor or sponsorship registration, or to learn more about 2017 Global Real Estate Summit NYC, log onto http://www.globalrealestatenyc.com, or contact Gary Connolly, HGAR’s director of Multiple Listing Service and Information Systems, at 914- 681-0833, or via email: Gary.Connolly@HGAR.com.