AUSTIN (Austin Business Journal) – Despite increasing global real estate turmoil, Texas remains an attractive play for foreign investors looking for opportunities in the United States, a report shows.

The Association of Foreign Investors in Real Estate ranks members’ top cities for U.S. and global investment in 2009. Houston ranked fifth, while Austin ranked 11th, tying with Las Vegas, Phoenix, Orlando, Atlanta, San Diego and San Jose, Calif.

Washington D.C. claimed the first spot.

The United States ranked first among nations in terms of opportunities for capital appreciation.

Conducted in fourth quarter 2008, the survey polled the association’s members who collectively hold about $1 trillion in real estate worldwide.

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