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LA Finally Matches NY as Foreign Investor Favorite
Los Angeles, for the first time, tied New York as the top city in the U.S. for foreign investors, according to a new survey taken among the members of the Association of Foreign Investors in Real Estate (AFIRE). London claimed the top spot globally.
New York, the top U.S. city for the last seven years, owned a substantial lead over Los Angeles. As recently as 2014, Los Angeles was in fifth place among U.S. cities. It only moved into second place in 2016.
“With the growth of online shopping, foreign investors continue to rank industrial / logistics properties as their number one investment opportunity,” said AFIRE’s Jim Fetgatter. “The cargo coming into the Port of Los Angeles represents 43% of all cargo coming into the United States.”
San Francisco, which has been on investors’ top five global cities list since 2011, fell into 11th place. Washington, DC continued its slide among global cities, falling from 15th place last year to 25th this year.
U.S. Survey Snapshot
- Los Angeles (tied with New York, No. 2 last year)
- New York (tied with Los Angeles, No. 1 last year)
- Seattle (No. 4 last year)
- Washington, DC (No. 6 last year)
- San Francisco (No. 5 last year)
- Industrial (No. 1 last year)
- Multifamily (No. 2 last year)
- Office (No. 3 last year)
- Hotel (No. 5 last year)
- Retail (No. 4 last year)
Global Survey Snapshot
- London (No. 3 last year)
- New York (No. 1 last year)
- Berlin (No. 2 last year)
- Los Angeles (No. 4 last year)
- Frankfurt (No. 13 last year)
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