Global real estate investors have discovered Boston. And they’re not going away any time soon.
That’s the gist of a new report from real estate firm JLL, which ranked Boston 14th in the world, and fourth in the U.S., in terms of international investment activity in the last three years, relative to its size.
It may not be news in the Boston real estate world, which has lately seen a flood of cash from Canadian, European, and increasingly Chinese funds buying office buildings and launching development projects here. But it’s a sign that global investors want what Boston’s selling, said Lisa Strope, New England research manager for JLL.
“This is further recognition that Boston has become one of the most important innovation hubs in the world and a strategic location for many global brands to plant their flag,” Strope said.
JLL listed Boston among a number of small to medium-sized cities in the U.S., Europe, and Australia with strong infrastructure and talent-driven economies that have become popular with foreign capital, as prices have surged in the most expensive big markets. Those cities have doubled their share of global real estate investment over the last decade.
“We expect these cities to continue to punch above their weight as real estate investment destinations,” the report said.