Investors Say LA Is No. 1, According To CBRE Report
Investors are poised to put money down on real estate this year, with 67% likely to be net buyers, up from 65% last year, according to a new CBRE study. Nowhere is that more apparent than in Los Angeles, which ranks at the top as the most preferred metro for investment this year.
LA ranked ahead of Dallas-Fort Worth and New York City as the place to invest.
Around 83% of investors plan to invest the same amount or increase their purchasing power this year, according to the survey.
CBRE senior vice president Chalvis Evans said there are a variety of reasons for the optimism regarding LA.
“Los Angeles is a safe haven for cash from overseas," Evans said. "There is a sense that real estate in a market like LA is a stable investment for years to come."
Slow economic growth nationwide and rising interest rates are the greatest risk for investors, according to the report.
This year, industrial has become the most attractive asset class for investing, coming in at 38%, replacing multifamily at 28%. Office was in third place at 18%.
