TEXAS’ FOREIGN RELATIONS

HOUSTON (Houston Business Journal) – Three Texas cities are among the top U.S. cities favored by foreign real estate investors, according to a survey released Tuesday by the Association of Foreign Investors in Real Estate.
Houston held onto last year’s ranking at No. 7. Austin moved into the eighth spot from eleventh place last year. Dallas ranked No. 13, after not placing on the list since 1995.
The top five cities for foreign investment in 2012 are New York, Washington, D.C., San Francisco, Boston and Los Angeles.
Sixty percent of survey respondents said they plan to increase their U.S. investments this year, down from 72 percent last year.
Fifty-nine percent said the U.S. offers the most stable and secure real estate investments worldwide — the highest level of respondents’ confidence in the U.S. since 2006.
Multifamily complexes remain the most popular investment property type for foreign buyers, according to the survey. Apartments are followed in popularity by industrial, office, retail and hotel properties.

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