International Investors: D.C. Properties Most Desirable in 2009
It may be time to start a new "Thank God We Live in D.C." series. I've already missed a few potential entries. One could be "Thank God We Had the Inauguration to Bolster Up the Hotel, Restaurant, Bar, Transportation Etc. Industries." Another could be "Thank God Our Jobless Rate Is the Lowest in the Country." They go on and on. Today's edition would be "Thank God People Still Want to Invest in Real Estate Here."
The inspiration comes from this Washington Business Journal piece, which reports that international investors consider D.C. properties the best buys in the U.S. this year:
Foreign investors in real estate expect to spend much more this year than they did in 2008, according to an annual survey by the Association of Foreign Investors in Real Estate.
After two years, D.C. regained its No. 1 status as the top global city for foreign investment in properties, followed by London and New York.
...D.C., which currently has the lowest unemployment rate in the country at 4.1 percent, was the most attractive U.S. city for investment dollars. New York (No. 2), San Francisco (No. 3), Los Angeles (No. 4) and Houston (No. 5) rounded out the top five.
Respondents said the multi-family sector was the preferred property type for their investments, followed by office, industrial, retail, and hotel properties. For the last two years, office properties came ahead of the multi-family sector.
Image by Schodt, Flickr Creative Commons