Foreign capital in US property reaches new heights

The demand for US commercial property assets by international investors rose to new heights in 2013 with investors pouring $38.7bn into the country, up 44 per cent from the prior year. But property brokers and sector lobbyists say these inflows are only a drop in the ocean, reports Anjli Raval, US property correspondent. Investors are being held back as a result of the Foreign Investment In Real Property Tax Act, which imposes a hefty levy on those who own US property.