Since last year, New York City moved from no. 3 for U.S. cities, to the most favorite city for real estate investments. Real estate investors around the world pick New York City as prime location for 2011.
According to reports from a global survey, Crain’s New York announces that New York is ranked the no. 1 city for foreign real estate investors this year. The survey was conducted in the fourth quarter of 2010 by the James A. Graaskamp Center for Real Estate at the Wisconsin School of Business.
“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,” said AFIRE Executive Director James Fetgatter. “However their strategy is more akin to a rifle than a shotgun. Except for multi-family housing, they are not scattering their interest throughout the U.S., but rather narrowly targeting it to New York City and Washington, D.C. to an even greater extent than in previous years.”