That’s right, you read the title correctly. According to a recent article by Matt Woolsey of Forbes.com, Washington, DC is now rated the number one city in the world for real estate investment. Jumping past London and New York City, which are listed two and three on the list respectively, DC is primed to become a real estate investment Mecca in the coming year, according to Forbes.
Other U.S. cities in the top ten include:
- Houston at number 9
- Los Angeles at number 7
- San Francisco at number 6
- And New York City at number 3
Woolsey writes that all the pieces are in place to make DC a real estate hub for the coming year and the foreseeable future. “Commercial and residential real estate often function as different markets, but both need low unemployment and strong job growth to puts money in the pockets of consumers and help businesses to succeed,” Woolsey writes in the article. “At present, D.C. has the lowest unemployment rate in the country–4.1%, compared to the 7.2% national average.”
In addition, Woolsey goes on to explain that the $1 trillion of government money will aid the cause. It is no secret that right now, DC is one of, if not the hottest place in the country, to gain employment, because of the dollars being pumped into federal jobs. “Investors are flocking to D.C. for opportunities in the commercial and residential real estate market,” Woolsey writes. “All these new programs will need offices, after all, and their employees will need places to live.”
Due to all of these factors, it will be fascinating to see the growth and expansion of DC’s real estate market, both commercial and residential, during the coming year. Get in on the action, now, before the market is overwhelmed. Check out all of our properties throughout DC, the number one city in the world for real estate investment!