Foreign Investors Rank NYC, DC Tops for RE

Foreign investors have identified New York City and Washington as their top two cities for real estate investments, according to the latest annual survey by the Association of Foreign Investors in Real Estate. The Washington-based AFIRE also reported that "one of the significant findings" this year is that investors have more confidence in China, considering that for the second time in three years China has been voted the country offering the best chance for capital appreciation, after the United States. Five of the respondents' top 10 cities are in Asia. London, the top-rated city for 2006, is down to No. 2 in the current survey. Singapore is up to sixth place, from 24th in 2006. Sydney, Australia, and Hong Kong are also up significantly. The United States has also been voted the most stable and secure country for real estate investments, with 56% of the votes. In terms of property sectors, retail properties are seen as the best bet.