Washington DC Slips, Los Angeles Rises in AFIRE Survey

WASHINGTON, DC-The Association of Foreign Investors in Real Estate is set to release its annual survey of foreign investor sentiment for 2013 on Monday. Some of the results come as a bit of a surprise: Washington DC—traditionally a gateway city of high-repute—has completely fallen of the top five global cities list. Other cities and countries, meanwhile, are showing signs of ascendency, such as Los Angeles, Houston, Spain and Mexico.

Foreign investors’ pick for global cities were London, New York, San Francisco, Houston, and Los Angeles. London, after three years, displaced New York City in this survey. As for Washington, D.C., it didn’t even make the top five this year as it usually does. It fell into ninth place after Tokyo, Madrid, and Munich. Los Angeles was in the top five global cities only once before in 2003.