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New York City top pick for foreign real estate investors in 2011

DAILY NEWS
Wednesday, January 5th 2011

 

According to a global survey, New York is ranked the No. 1 city for foreign real estate investors in 2011, reports Crain's New York.

The Big Apple reigns supreme! Real estate investors around the world pick NYC as prime location for 2011.

 

The Big Apple beat out London and Washington to become the favorite with investors for the upcoming year (moving up from the third place spot in 2010), according to the annual survey of the Association of Foreign Investors in Real Estate.

What does this mean? At least a few people have hope for the 2011 economic landscape.

“As the fear of a double-dip recession has faded, investors are becoming more enthusiastic about the prospects for the U.S. economy and are taking aim at real estate investment opportunities,” AFIRE Executive Director James Fetgatter told the Washington Business Journal.

The Journal also reports that a whopping 72% of AFIRE members surveyed plan to invest more in the U.S. this year.

Globally, Washington reportedly came in second place, followed by London in third. The top five favorite cities in the U.S. were New York, Washington, Boston, San Francisco and Los Angeles.