The United States was ranked the top global property market among foreign investors, but Asia is close behind, according to a new survey by the Association of Foreign Investors in Real Estate (AFIRE). China ranked second behind the U.S. for the second time in three years, and the gap between the two countries narrowed from 27 percent in 2005 to less than 5 percent in 2007.
The U.S. was also considered the most stable and secure for real estate investments by 56 percent of those surveyed, followed by Germany, the United Kingdom, Australia and Japan. New York City and Washington, D.C. were ranked the top two global cities for foreign investors’ real estate dollars, followed by London, Paris and Shanghai.
Other significant changes in 2007 where:
- Singapore, up to 6th place (tied with Tokyo) from 24th place in 2006
- Sydney, up to 9th place from 15th place in 2006
- Hong Kong, up to 10th place from 11th place in 2006
Top U.S. cities are:
- New York
- Washington DC
- Los Angeles
- San Fransisco
Boston was not mentioned in this survey.