In a recent survey completed by members of the Association of Foreign Investors in Real Estate (AFIRE), Boston ranked third behind New York and Los Angeles in the category of top U.S. cities for foreign real estate investment. AFIRE is made up of foreign companies who invest in real estate, their advisors, managers, lawyers and accountants, and US institutions who invest in international real estate.
In a statement released last month, the association reported that 95% of the respondents say they will maintain or increase their investment in the US. Hailing from 22 different countries, members of the prestigious association cite the countrys sustainable economic growth, strong rule of law, transparency, and relative overall security for investments.
More than half of the surveys respondents reported plans to increase both value-added and opportunistic allocations in the coming year. The U.S. took first place for being the most stable and secure country for real estate investment, edging out both Germany and Canada, along with a first place finish in countries providing the best opportunity for capital appreciation.
Globally, concerns about the effects of Brexit still haunt investor decisions. London fell back in its global position, historically ranking either first or second, now taking third place behind New York and London. At home, the investment market broadens with industrial property edging out multifamily to take first place among top property types.
Meanwhile, Boston continues to be a desired location for many foreign investors. The city climbed two spots since last year to join the ranks of the top destinations for foreign investment. As a hub for luxury real estate and sound investments, the Beantown sits proudly among our countrys best. For more information on available properties, visit www.gibsonsothebysrealty.com
Soure: Boston Real Estate Times