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UPDATE: Washington's Fourth Place Standing Surprises Some

WASHINGTON, DC-The District dropped from second to fourth place as a draw for foreign real estate investment. Some cite the perception that the city is not a high-technology center as the reason for the drop.

By Diane Cook | Updated on January 15, 2001

WASHINGTON, DC-As previously reported, the District was named among the top four US cities to draw foreign investments according to an investors’ survey conducted by the Association of Foreign Investors in Real Estate. Industry insiders are now responding to the findings, many with surprise.

According to AFIRE officials, the association’s members collectively have nearly $45 billion invested in US real estate. New York and San Francisco are the investment front-runners while Boston and DC respectably hold their own in third and fourth places. In last year’s survey, the District came in third of five — New York; Washington, DC; San Francisco; Boston, and Chicago.

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