Global Real Estate Rising Star Cities
First Published: Jun 21, 2014 RealEstateExpedition.com
A recent report, jointly published by the leading interior design house Candy & Candy, the Savills, and Deutsche Asset & Wealth Management, identified 12 cities across the globe that can have residential real estate value skyrocket in the next few years. Here are the top 12 cities according to the Candy GPS Report. The $ value shows the cost of a two-bedroom apartment in not-so-expensive areas in those cities.
Tel Aviv - $500,000
Melbourne - $320,000
Miami - $275,000
Chicago - $250,000
Dublin - $210,000
Panama City - $200,000
Beirut - $180,000
Istanbul - $125,000
Cape Town - $110,000
Jakarta - $90,000
Lagos - $70,000
Chennai - $40,000
Some highlights from the report -
- Cities like Chennai, Panama, and Tel Aviv can have strong growth potential cities like New York, London, Hong Kong, etc.
- Poor fixed-income markets and equity performance are driving the growth towards real estate markets across the globe.
- Residential real estate properties continue to be the investment of choice for the ultra rich.
- Characteristics that make cities hot spots for real estate investors include presence of new tech industries, English language spoken, proximity to green spaces or water, and so on.
- African cities like Cape Town and Logos are among those rising global real estate cities to show strong growth potential as alternate locations.
- Chennai in India is the cheapest city among these 12 rising star cities.
To view the report, visit the Candy & Candy website.