WASHINGTON, DC–Here we go again. Up until last year, Washington DC has been among the top five US cities cited by foreign investors as a market which they liked and saw as fitting for investment, according to the Association of Foreign Investors in Real Estate (AFIRE) annual survey. Then last year we were bumped to No.6 on the list of US cities and No. 15 for global cities. This year the DC area made its way back on the top five US cities list but has fallen to 25th for global cities.
It is fair to wonder what is going on, especially when foreign investment is playing such a significant role in the market's overall office investment sales. Last year, according to CBRE, foreign investment accounted for 42% of the area's total office sales.
The obvious explanation is that the AFIRE survey captures foreign investors' attitude about CRE markets — not their intentions.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
