Austin is the U.S. city with the most interest from foreign real estate investors this year, a new survey found, signifying a shift in investment toward smaller metropolitan areas as the coronavirus pandemic and rise in remote working pushes people out of large cities.

Key Facts

Nearly one in four survey respondents ranked Austin as the top market to increase real estate exposure in this year, while a third ranked it within the top three cities, according to an annual survey by the Association of Foreign Investors in Real Estate. 

Austin’s top ranking is a huge jump for Texas’ rapidly-growing capital city—in last year’s survey, it was ranked just tenth by international investors.

It’s the first time a tertiary city, or a smaller metropolitan area,…

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