U.S. Cities Top Global Investors' Lists
The Association of Foreign Investors in Real Estate (AFIRE) has released its annual foreign real estate investment survey, and the results show an increased confidence in the U.S. real estate markets.
For the first time since the question was first asked in 2001, four of the five cities selected by AFIRE members as the top global cities for their investment dollars are in the U.S. The top five global cities are New York, London, San Francisco, Washington, D.C., and Houston.
"The strong endorsement of both San Francisco and Houston by our members in this year's survey directly reflects the propensity for real estate investment to follow jobs, in this case, technology and energy, which are thought to be among the top drivers of the next economic wave," said James A. Fetgatter, chief executive, AFIRE. "As other economic drivers emerge, it will not be surprising to see investors seek opportunities beyond the traditional New York and Washington, D.C. markets."
The U.S. earned the top ranking (by a landslide) in providing opportunities for capital appreciation, receiving 55 percent of the vote. The second-ranked country, Brazil, received 17 percent of the vote.
For more on the survey and its results, visit www.afire.org.