Foreign Investors are Buying in Washington DC
Foreign real estate investors are eyeing the Washington DC real estate market! In the past year, DC has risen two spots, from number six to number four among U.S. cities for foreign investment. Only New York, Los Angeles, and Seattle came in before our nation’s capital.
South Korean and Chinese institutional investors are fueling much of the interest. The top five property types investors are most interested in listed by members of the Association of Foreign Investors are industrial, multi-family, office, hotel, and retail (in order of importance).
D.C. Developments and Beyond
It’s no secret D.C. has been growing immensely over the past few years. The city as a whole has been working hard to redevelop neighborhoods to make them more pedestrian-friendly, have a better sense of community, and to encourage long-term growth.
In Fall 2017, the first phase of the Wharf opened to much fanfare. It’s the perfect example of a mixed-use development, with industrial, multi-family, office, hotel, and retail. Phase II is set to open in 2019 has seen substantial interest from foreign investors buying in DC.
Another development, City Center DC, which has been dubbed the city’s “downtown” neighborhood has also garnered substantial international buyer interest. City Center is home to stylish high-end retail stores like Ferragamo, Gucci, Prada, Tesla and many more. There are also a number of condos for sale with plenty of dining and entertainment options nearby.
Even D.C.’s suburbs are getting in on the action, with developments up Rockville Pike at Pike & Rose and development along the Metro’s new Silver Line.
Investing with us, Capital Park Realty
Investing can be a daunting task, particularly in a foreign country. The experienced agents at Capital Park Realty can guide you through the process and find a property that fits your investment goals. Please contacts us for a no-commitment buyer consultation.