Forbes Magazine (www.forbes.com ) has come out with its annual list of best cities in which to invest in real estate around the world, and this year there are some surprises. Washington, D.C. topped the list, ahead of traditional favorites such as London and New York City. With a huge stimulus package in the works and a new government led by Barack Obama, the city is viewed as a good place to invest in real estate.
London, last year’s leader, came in second and New York followed in third place. Despite the economic troubles that have rocked the UK’s largest city and capital, it is still seen as a solid place to buy property. New York hasn’t seen nearly the drop in values that many major cities have and is always a good place to buy.
Following New York is Tokyo in fourth place and Shanghai came in fifth. Two US cities made a surprising jump to sixth and seventh place: San Francisco in sixth place and Los Angeles in seventh. Paris, which has been a consistently good performer in real estate values, was eighth on the list. Houston was the ninth place on the list, and Singapore rounded out the top ten.
