London Tops Commercial Foreign Investment Interest
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A large shop, in a prime location opposite Harrods department store, stands empty awaiting a business tenant on January 20, 2009 in London, England. (Oli Scarff/Getty Images)
London is the top city for commercial real estate investment, outstripping previously hot cities such as Washington D.C. and New York, according to a recent survey by the Association of Foreign Investors in Real Estate (AFIRE).
London’s 2010 score is 31 points higher than second-place Washington, and 40 points higher than third-place New York. In the 2009 survey, London was in second place, separated from first-place Washington by only four points and third-place New York by a mere two points.
Paris and Tokyo rounded out the top five cities.
The United States was a clear 21 points ahead of second place U.K. as the country perceived to provide the most capital appreciation. With 51 percent of the votes, the U.S. reached its strongest level since 2003, rising high from 37 percent in 2008 and 26 percent in 2007.
Two-thirds of respondents plan to increase their investment in the U.S. in 2010 compared to 2009, according to the survey.
Survey respondents own more than $842 billion of real estate globally including $304 billion in the U.S. The survey was conducted in the fourth quarter of 2009 by almost 200 investors.
Paris and Tokyo rounded out the top five cities.
The United States was a clear 21 points ahead of second place U.K. as the country perceived to provide the most capital appreciation. With 51 percent of the votes, the U.S. reached its strongest level since 2003, rising high from 37 percent in 2008 and 26 percent in 2007.
Two-thirds of respondents plan to increase their investment in the U.S. in 2010 compared to 2009, according to the survey.
Survey respondents own more than $842 billion of real estate globally including $304 billion in the U.S. The survey was conducted in the fourth quarter of 2009 by almost 200 investors.
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