London beats New York among foreign investors in real estate

New York

NEW York City took a double hit in an annual survey of real estate investors, which saw London overtake it in first place globally and Los Angeles tie it for top US city.

The annual survey of the Association of Foreign Investors in Real Estate asks its members, who are estimated to have more than US$2 trillion in real estate assets under management, to rank markets by various measures, such as stability and opportunity for capital appreciation. This year's poll, the 26th, also saw pricey San Francisco, which had been one of the top five global cities since 2011, fall to 11th place, and Washington, DC, skid to 25th from 15th place last year, part of a long slide.