The Investors Are Coming, The Investors Are Coming
With respect to the 1966 movie I had to use this headline as foreign real estate investors are planning on greatly increasing their real estate investing in the United States for 2009.
Washington, New York, San Francisco, Los Angeles, and Houston are by far the 5 top cities international investors are looking at placing their money.
For those owning investment grade property in these cities it must be a welcome relief after the 4th quarter of 2009.
A study released today by the Association of Foreign Investors in Real Estate showed that equity investors plan to boost real estate investment activity by 73% in the United States and 40% globally.
“Our investor members have expressed a growing confidence and interest in U.S. real estate,” James A. Fetgatter, chief executive of the Washington-based association, said in a statement. “Their investment plans for 2009 for the U.S. resemble the flight to quality that is creating the demand for U.S. Treasuries.”
The 17th annual study surveyed about 200 of the association’s members, who collectively hold $1 trillion worth of real estate.
Washington topped the list of cities in which foreign investors are most likely to park their cash this year.
London and New York ranked second and third, respectively, while Tokyo and Shanghai, China, finished a distant fourth and fifth on the list.
Foreigners plan to spend more on U.S. real estate – InvestmentNews.
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Pingback by Of course it is a great time to buy or sell a home - Coldstreams Business and Economy on 14 January 2009:
[...] Foreign investors invading U.S. to buy cheap property. Soon we may all be speaking Chinese and [...]
Comment by Robert Unusual Loans on 14 January 2009:
I have noticed an increase in calls form out of the country investors. I have had several calls from several agents that represent Chinese investors.