New York City tops London as global capital destination
Global property investment has risen to $1.35 trillion in the past year, despite 12 months of uncertainty across the globe, according to Cushman & Wakefield’s Winning in Growth Cities report.
During the 12 months to June 2016, the largest gateway cities increased their share of the market, with the top 25 drawing in 53.3 percent of all global spending, up from 52.7 percent in the previous year.
Ten of the top 25 cities by foreign investment were in Europe, the Middle East and Africa and six in Asia Pacific. The United States had the best of the growth, increasing its hold on the list with 15 of the top 25 cities.
New York City once again topped the ranking of cities from a total investment perspective, while London slipped down one place further to third. And other U.S. cities were also major investment destinations: Los Angeles followed in second; San Francisco in fourth; Washington, D.C., in seventh; Chicago in eighth; Dallas in n