Chairman of NAI Realvest George Livingston says Congress did Something Right: U.S. Tax Reform Generating More Foreign Investment in Real Estate

ORLANDO, FL. --- Congressional reform of the Foreign Investment in Real Estate Property Tax Act (FRIPTA) is having a positive effect on the nation’s economy, according to longtime real estate analyst George Livingston, (top right photo) chairman of NAI Realvest in Maitland.

“Reform of FRIPTA has been a high priority and it is beginning to pay off,” Livingston said.

“Results of the tax reform bill are already impacting the market. REAL Capital Analytics reports that the U.S. is back on the top of the list of target markets for foreign investors, largely as a result of the reform and the related upturn in the markets,” Livingston added.

Foreign investment is a major key to recovery of the U.S. commercial real estate investment market,” Livingston said.

“Significant deals by foreign investors are taking place right now, including three Orlando transactions and five in Florida,” Livingston said.

“Canada is clearly leading the way, and the deals tend to be large in size and cut across all property types, even including hotels,” he said.

Florida Real Estate Journal recently reported that a survey of members of the Association of Foreign Investors in Real Estate (AFIRE) shows renewed commitment to U.S. real estate as their preferred acquisition target.

“The response---by more than half of the members of AFIRE---is the strongest reading since 2003,” Livingston said. Among investors, the U.K. ranks as the second most preferred with 30 percent of the vote and China ranks third with 10 percent.

AFIRE members own assets worth $842 billion worldwide and $304 billion in the U.S., Livingston said.

Two thirds of its members expect to increase their investments this year, typically for trophy properties in major markets such as New York, Washington, D.C., and San Francisco.

“The U.S. is still considered the most stable and secure real estate investment market in the world,” Livingston added.

For more information,  contact:
George Livingston, Chairman NAI Realvest 407-875-9989; glivingston@realvest.com; Patrick Mahoney, President, NAI Realvest 407-875-9989 pmahoney@realvest.com
Beth Payan, Larry Vershel Communications, 407-644-4142, lvershelco@aol.com