Florida bumps Texas for foreign investors
Florida has become a top destination for cross-border capital coming into the United States, with the state moving into third place overall. In 2015, Florida ranked fourth in terms of cross-border investment volume. During first quarter 2016 it wasranked third, bumping Texas to fourth place, according to CBRE’s "Florida: A destination for global capital." Last year New York state was ranked first, followed by California and Texas, respectively.
This year, foreign investment in Florida commercial real estate is expected to moderate compared with the blistering pace set in 2015 but to remain elevated relative to historical transaction volumes.
South Florida is a major destination for foreign buyers. The market received more than 60 percent of the cross-border capital entering the state since 2007.
The state has had exceptionally hi