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WASHINGTON, DC-The locally based Association of Foreign Investors in Real Estate reports that and New York City and Washington, DC are the two top global cities for foreign investment, according to the results of its 16th annual survey. The James A. Graaskamp Center for Real Estate, University of Wisconsin-Madison conducted the survey in Q4 ’07.

According to Karin Shewer, principal of Real Estate Capital Partners and the new chairman of Afire, this is the first time since the global city category was added to the survey that a US city has taken first and second spots. It “represents a very strong showing for US real estate,” she says.

London, in fact, tied for second place with Washington, DC. However the UK capitol dropped from its number one slot in 2006. Washington, DC rose from No. 4 to No. 2; New York City rose one spot to the top slot, from its previously position of No. 2. Paris is the fourth largest destination of foreign real estate investment. Shanghai has jumped four spots to No. 5, from No. 9 in 2006.

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