http://www.forbes.com/sites/michaelcole/2014/04/27/chinese-now-top-foreign-buyers-in-manhattan-property-market/

The growing economic power of China’s consumers was proven again last week when an independent poll of Manhattan real estate brokers found that Chinese are now the number one foreign buyers of pricey New York City property.

The survey by Reuters found that for the first time ever, Chinese had taken over the top spot in terms of both volume and value of sales, after having displaced Russian buyers.

And compared to where they have been buying, even some of America’s most expensive homes look affordable.

According to the Prime International Residential Index published by real estate consultancy Knight Frank, luxury homes in Manhattan sell for between $2,100 to $2,500 per square foot, while in Hong Kong, which had its own mainland invasion of the property market over the last several years, high-end homes go for $4,100 to $5,000 per square foot.

China’s ascent to the top of the…