Foreign Real Estate Investors: DC Among Top Four Investment Targets

WASHINGTON, DC-Four cities top foreign real estate investors’ purchasing list according to a survey conducted by the Association of Foreign Investors in Real Estate. The ninth survey of its kind, AFIRE released its results Jan. 3 indicating that New York, San Francisco, Boston and the District are where the association’s members, who collectively control nearly $45 billion in US real estate, plan to purchase property in 2001.

James Fetgatter, AFIRE chief executive, says that this is the first time the consensus is so strong. New York and San Francisco have solid first and second place positions. Boston and DC have respectable third and fourth places. Beyond that, no other cities come close, he says.

Foreign investors continue to favor office buildings as the preferred investment for 2001. Multifamily properties took the number two spot while retail properties slipped from second place into fourth. They are least likely to invest in hotels, according to the survey.