Houston dubbed a "city of the future" for foreign investment

Likely due to its steady economy and strong growth prospects, a recent report has ranked Houston as one of the top 10 American cities of the future for foreign direct investment.

The rankings, compiled by fDi Magazine, listed Houston third in the overall rankings, trailing just New York City - which took the top spot - and Chicago. The three cities received identical rankings last year.

In the individual categories, Houston earned the top spot for its FDI strategy, and finished in the top 10 in three others, infrastructure, business friendliness and human resources.

The favorable rankings show that the city provides a favorable climate for growth in the coming years, and may continue to attract jobs and workers to the area. That positive climate could also help boost commercial properties in the Houston real estate market, as funding flows into companies in the city.

Those investments could boost an already steady office market. A report from Colliers International showed vacancies dropping from 16.2 to 15.9 percent during the first quarter of this year.

Courtesy of 2M Realty News