WASHINGTON – According to a survey from the Association of Foreign Investors in Real Estate (AFIRE), Austin and Dallas are top U.S. markets for international investments in 2021.
The survey found that 30 percent of all respondents cited Austin as a top three market for planned investment this year. Austin tied with Boston for the top spot for investors. Dallas followed closely, ranking third with 29 percent.
Rounding out the top five were Atlanta and New York City, at 25 percent and 21 percent, respectively.
Some 33 percent of respondents said Austin would be a top three market for them in the next three to five years, more than any other market. Boston and Dallas tied for second at 24 percent.
Meanwhile, 23 percent of respondents identified Austin as their top target market, more than any other market. Austin’s top ranking on this list is unprecedented, according to AFIRE, as a tertiary city has never ranked No. 1 before.
Overall, 90 percent of respondents said they plan to increase their position in U.S. cities over the next three to five years.
Of the markets foreign investors plan to leave, New York, Chicago and San Francisco top the list. Houston was also in the top five.
Multifamily and industrial property are the biggest targets for foreign investors over the next three to five years. Interest for office and retail property has cooled, but hotels are gaining interest.
Investors from Asia, Europe, and Canada are expected to make the biggest contributions within the U.S. real estate market over the next few years.
The survey gathered insights from 101 respondents across 19 countries.
The Texas Real Estate Research Center has a wealth of economic information online for free.