PHOENIX – According to a study by the Association of Foreign Investors in Real Estate, international investors have ranked Phoenix as a market they plan to increase their real estate exposure to in 2021. The survey gathered information from more than 100 respondents, including institutional investors, fund and investment managers, family offices, publicly traded companies and related services. Phoenix did not crack the top 10 list for planned real estate investments this year. Austin, Boston, and Dallas headed the list. However, Phoenix ranked sixth for places where international investors wanted to increase their real estate exposure. 16% of respondents said they would increase their stakes in Phoenix. Austin, Boston and Dallas again led this ranking. Only 3% of those surveyed said they wanted to reduce their stake in Phoenix. According to the study, international investors are most interested in buying apartments or industrial property, both asset classes that have continued to perform well during the pandemic, with both sales and rentals. Office and retail investment intentions have both cooled further. Read more about this subscription in the Business Journal only.
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