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Houston may have been a bit battered this year by the drop in oil prices, but most real estate experts agree that the city still has a bright future ahead of it. Middle Eastern buyers seem to agree. Houston is among the top 7 U.S. cities for transactions led by Middle Eastern investors. Last year, Middle Easterners bought $101 million’s worth of assets in Houston. This year, the volume hasn’t yet reached $100 million, but we still have four months to go.
Another perennial investor favorite, the San Francisco metropolitan area saw $123 million in real estate acquisitions backed by Middle Eastern buyers in 2014. So far this year, the volume is under $100 million.
Middle Eastern investors spent $192 million last year on properties in Chicago. It remains to be seen whether they will match that volume in 2015.
South Florida proved popular last year, with $230 million in Middle Eastern acquisitions, and has been even more popular this year, with $280 million in acquisitions in the first half of the year alone.
Commercial real estate assets in the D.C. metropolitan area attracted $457 million in funds in 2014. In the first half of 2015, Middle Easterners spent $280 million on D.C. properties.
Showing surprising strength for a non-gateway city, Atlanta saw $338 million in Middle Eastern acquisitions in the first six months of this year. In 2014, that volume was below $100 million.
On the other hand, it should surprise no one that New York metropolitan area ended up on the list. There was $1.36 billion worth of transactions led by Middle Eastern investors in the metro in 2014. This year, that volume already totals $1.14 billion.
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