DC Tops List of World's Best Real Estate Markets

• January 26th 2009

by Mark Wellborn

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DC regularly ranks high on “Top Ten” lists related to residential and commercial real estate, however its top billing on Forbes recent list of the “World’s Best Places for Real Estate Buys” is worthy of some bragging rights.

The annual list has DC in the top spot for both commercial and residential real estate investment ahead of London and New York City. (Both cities have held the #1 ranking in recent years.) Here is the full list:

1. Washington, DC
2. London
3. New York City
4. Tokyo
5. Shanghai
6. San Francisco
7. Los Angeles
8. Paris
9. Houston
10. Singapore

Forbes writer Matt Woolsey attributed the new ranking to the proposed $1 trillion in government spending and DC’s low unemployment rank versus the rest of the country:

“Commercial and residential real estate often function as different markets, but both need low unemployment and strong job growth to put money in the pockets of consumers and help businesses to succeed. At present, D.C. has the lowest unemployment rate in the country—4.1%, compared to the 7.2% national average. With President Obama’s stimulus package recommending $1 trillion in new spending, it’s unlikely government jobs—and those they support—will be leaving the District anytime soon.”

DC tied with London for second last year, and was fourth the year before that.

This article originally published at https://dc.urbanturf.com/articles/blog/dc_tops_list_of_worlds_best_real_estate_markets/475.