That’s according to the National Association of Real Estate Investment Trusts’ annual conference this year.
The top investment cities for 2007 also included: New York City; Washington, D.C.; Los Angeles; Seattle; Austin; San Francisco; Honolulu; San Jose; and San Diego.
Ron Donohue of Hoyt Advisory Services noted that while the industry remains solid, real estate investment activity in 2006 was slower than 2005. He predicts that the top investments for 2007 will be multifamily rental properties for moderate income, full-service hotels, multifamily rental properties for high income, warehouse industrial and community and neighborhood shopping centers.
“We’ve had a very strong run but we’re starting to see some moderation,” he said. “The big question is how long will the cap rates remain at their current level? There an enormous amount of money on the sidelines waiting for cap rates to come up and prices to come down.”
Source: OBJ Online 3-30-07