middle-east
Middle-East Investors Spurn U.S. Real Estate (New York Excepted, Of Course)
Grufnik via flickr.
Marquee New York properties notwithstanding, foreign investors are fast losing interest in an American commercial real estate market increasingly buffeted by the credit crisis.
According to an Associated Press report published in today's International Herald Tribune:
"Middle East investment is expected to be flat or down this year compared to a banner year in 2007. More than half way through the year, Mideast investors have shelled out $2.7 billion for U.S. assets, according to Real Estate Analytics Inc., a New York-based real-estate research firm. But at that pace, this year's total sales will likely fall far below last year's $8.2 billion in deals. read more »
