Overseas Investment in the US may be on the Rise
June 18, 2009
The beleaguered US commercial real estate market may be getting some much needed capital from foreign investors. A survey conducted by the Association of Foreign Investors in Real Estate (AFIRE) is showing some promising numbers.
According to the survey, in the past six months the confidence level of overseas investors has gone up. Over two-thirds of survey respondents among the 200 members stated they planed to invest some debt or equity in the US real estate market before the end of the year. Foreign real estate lenders say they also plan to increase lending by 58 percent and equity investors plan to increase investment activity by 73 percent in the US.
Current market activity may be partially responsible for the survey results. The highly publicized purchase of AIG headquarters earlier this month by Korea based Kumho Investment Bank may have helped.
As part of the survey, investors also ranked which US cities they felt would recover first. Washington, DC took the top spot, followed by New York City (which ranked first last year), San Francisco, Boston and Los Angeles. You can read the full survey on AFIRE’s website here
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