London has surpassed New York as investors’ top global city to to make investments in real estate, according to a survey released by Association of Foreign Investors in Real Estate (AFIRE).
London, which came top of the list for the first time since 2009, was voted by 24% of AFIRE members followed by New York with 21%. New York ranked first in the previous three years.
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San Francisco, Houston and Los Angeles were in the third, fourth and fifth respectively.
Washington, D.C., fell out of favor as a destination for foreign money, dropping to ninth, after Tokyo, Madrid and Munich.
The survey respondents identified the US and Germany as the most stable and secure countries for foreign investment. China, Brazil, Mexico, Columbia and Peru were named as the top emerging markets.
AFIRE member firms have an estimated US$2 trillion or more in real estate assets under management globally.
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By GlobalDataThe survey was conducted in the fourth quarter of 2013 by the James Graaskamp Center for Real Estate, Wisconsin School of Business.
