CHICAGO—The US real estate market will continue to be boosted by foreign investors in 2016, thanks in part to the combination of a strong US dollar and the devaluation of currency in other non-US markets. And the Chicago region should continue to see enormous benefits from the trend.
In fact, as of early December, foreign investors had already spent $3.27 billion on Chicago-area real estate, well above the current full-year record of $2.18 billion set in 2013, according to Real Capital Analytics.
"People are much more comfortable buying properties across state lines than they were ten years ago," Michael Thanasouras, managing director of SVN | Chicago Commercial, tells GlobeSt.com. "And that is the case with international investors as well, who have become much more comfortable buying in the US."
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
