A survey carried out by the Association of Foreign Investors in Real Estate (AFRIE), reveals that New York is viewed as the number one city for foreign real estate investment.
For the second consecutive year, New York outranked London as the top global city for foreign real estate investment. Berlin, ranking fourth, became the first German city to be named among the top five global cities.
What’s more, overseas investors view America as the most stable market in which to buy a property in during 2016.
Sixty percent of respondents to the survey said that the US was the country providing the most stable and secure real estate investments. By comparison, Germany, which came in second, had only 19 per cent of the vote. With 46 per cent of the vote, the US was also cited as the country providing the best opportunity for capital appreciation. Brazil, second in this category, received 17 per cent of the vote.
“The best investment opportunity is the United States, itself,” said James A. Fetgatter, chief executive of AFIRE. “The real estate fundamentals are sound; the economy continues to remain strong; there are opportunities across all sectors of the real estate spectrum and in both gateway and secondary cities.”
He continued: “The recent legislation bringing welcome relief from certain FIRPTA taxes should provide additional incentives for foreign investment into the US. In an environment that is regarded both as the safest and most secure in the world, with a strong currency and the best opportunity for capital appreciation, the US is the safest harbour.”
Elsewhere, India and Peru join the list of top five emerging countries for investment. The top three, Brazil, China, and Mexico, retained their positions from 2015. Chile moved from fourth place to third to tie with Mexico; India and Peru tied for fifth place. Meanwhile, Australia joins the list of countries providing the most stable and secure real estate investments.
Top Five Global Cities for foreign investment
1. New York
3. Los Angeles
5. San Francisco
Most Stable and Secure Countries for Real Estate Investment
Countries Providing the Best Opportunity for Capital Appreciation