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The new global city

Posted on 16 May 2011

Jonathan J. MillerRussians in London, Brazilians in Miami—and Chinese almost everywhere. The biggest players in the residential-real-estate scene today often come from halfway around the world.
In London, one report finds that 65% of buyers in the luxury market hail from abroad. According to the Miami Association of Realtors, nearly 60% of all sales last year throughout the city were to buyers from foreign countries. About half of the buyers in one new luxury condominium on Manhattan’s Fifth Avenue are from overseas……………………………………….Full Article: Source

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