US real estate to draw more foreigners in 2016, survey says

It is expected that the foreign investment in the US real estate market this year will grow further compared to last year, after soaring from $5 billion in 2009 to $87.3 billion in 2015. 64% intends to increase investment in the US real estate this year; 31% plans to maintain existing holdings; and none of the respondents expect to decrease the investment, in witness of the economic slowdown in China, recession in Brazil and immigration crisis in Europe. Manhattan is top favored and it attracted $23.5 billion, or 27%, of the total foreign investment in 2015. Multifamily and industrial properties are top targetted. The fact that US eases real estate taxes on foreign investors will furthur boost the investment. Bloomberg Business has more.