# Prof. Stijn Van Nieuwerburgh on foreign investors buying real estate in New York

1 Faculty News September 1, 2013 ![](/sites/default/files/styles/246w/public/assets/images/con_044470.png?itok=jAj-xxFC)>

Excerpt from [Details](http://www.details.com/culture-trends/career-and-money/201309/best-new-real-estate-brokers-to-know?printable=true) -- "'If you're a Brazilian billionaire, moving money offshore into a Manhattan apartment is a good idea,' says [Stijn Van Nieuwerburgh](http://w4.stern.nyu.edu/faculty/bio/stijn-van-nieuwerburgh), the director of the Center for Real Estate Finance Research at NYU Stern School of Business. 'The market hasn't peaked yet. It's a stable currency. And these foreign investors aren't looking for a 5-to-7-percent return on their investment. It's a trophy asset, a luxury good.'"

[Read more](http://www.details.com/culture-trends/career-and-money/201309/best-new-real-estate-brokers-to-know?printable=true)