Washington, D.C. Tops List for Real Estate Buys

REALTOR Daily Real Estate News | January 22, 2009 |

Washington, D.C. Tops List for Real Estate Buys

The nation's capital leapfrogged London this year as the world's best city for real estate investment. With the federal government on a path to grow bigger and increase spending, the new programs will need offices and its employees will need homes.

Forbes magazine turned to the Association of Foreign Investors in Real Estate for the list of where its member investors are finding the best opportunities around the world.

In normal times, financial capitals, New York City and London, vie for first place. Today, both may even be a little grateful to come in second or third. "There used to be a rivalry between New York and London," says Kenneth Patton, divisional dean of the New York University Schack Institute of Real Estate. "The subject has shifted to the fact that we're both in the same lifeboat, and maybe it's leaking."

Here is the list of the world's 10 best place for real estate buys:

• Washington, DC
• London
• New York City
• Tokyo
• Shanghai
• San Francisco
• Los Angeles
• Paris
• Houston
• Singapore

Source: Forbes, Matt Woolsey (01/21/2009)