Traditionally, you could comfortably pencil in Manhattan for the top spot in the US for cross-border investment on Real Capital Analytics' US Cross-Border investment Compendium.
But that changed in Q1 as Seattle (with an 11% YOY decline) took the top spot in the 12 months through Q1 2021, after moving up from the No. 2 spot last year. Manhattan (-79%) has slipped to the second position after occupying the top slot in 2020. San Francisco (-28%) remained in the third spot. Chicago (+28%), which was No. 6 last year, moved into the fourth spot. Dallas (-46%) dropped from No. 4 to No. 5.
Atlanta (-34%) also dropped a spot—from No. 5 to No. 6. Los Angeles (-69) held onto the No. 7 spot, while Phoenix (+7%) retained the No. 8 slot. Boston (-20%) moved up from No. 10 in 2020 to No. 9 this year. San Jose (+6) had a large jump—moving from No. 19 in 2020 to No. 10 this year.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
