USA Tops Foreign Investor Wishlist
The US provides the best opportunity for capital growth according to an organisation representing over $800 billion of real estate investment.
Over 50% of the nearly 200 members of the Association of Foreign Investors in Real Estate (AFIRE) identified the US as their preferred investment destination, up from 37% in 2008 and 26% in 2007.
Two thirds of respondents to the organisation’s survey plan to increase their investment in the US in 2010 compared to 2009. Plans for global equity investment in 2010 exceed plans for 2009 by 46%.
The UK was the second most population investment location 30% of votes, followed by China with 10%. London was the most popular city, taking a significant lead over both Washington and New York in second and third places respectively.
“Although foreign investors expressed every intent to resume investing in 2009, like everyone else, their plans were sidelined by a paralyzed marketplace with no precedent and limited investment opportunities,” said Werner Sohier, senior portfolio manager real estate at PGGM and AFIRE’s chairman.
“However, new money is becoming available and the AFIRE survey points to an increased focus and interest in a few select markets for 2010, especially London and in the US, where prospects appear to be brightening.”
Source: Overseas Property Professional |
