WASHINGTON, DC–London has become the top city in which foreign investors want to invest, according to the locally-based Association of Foreign Investors in Real Estate (AFIRE)'s annual survey.
The city has nudged New York from its previous place as the No. 1 global city for real estate investments. Furthermore the survey revealed that New York City is no longer the only No. 1 city in the US that appeals to foreign investors; that title is now shared with Los Angeles, which tied with New York in this latest survey.
Up until this year New York had been named the top US city for the last seven years, holding a substantial lead over Los Angeles. As recently as 2014 Los Angeles was in fifth place among US cities. It only moved into second place in 2016.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
