New York property is one of the most popular acquisitions by foreign investors, it has been revealed.

The latest survey from the Association of Foreign Investors in Real Estate (Afire) has shown that New York property ranked third out of the top five global cities to invest in real estate.

Washington and London also featured as attractive investments for real estate, with Tokyo and Shanghai completing the top five.

Executive director of Arcapita and chairman of Afire C MacLaine Kenan stated that investors’ interests were "muted" by concerns over the economy, but added: "As they expect more favourable investment fundamentals to return in 2009, our members are poised to move more aggressively on acquisitions."

Overall, the study noted that overseas property investors are intending to make more purchases in 2009 than they did last year.

It was recently suggested by Abta – The Travel Association that the inauguration of Barack Obama as president could boost tourism to the US.

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