Cities to Watch
When it comes to real estate investment, A-listers like New York, Hong Kong, and London are an obvious pick. But as global investors seek alternative locations, there are dozens of up-and-coming cities across the world where residential property price growth could meet or beat that of top tier cities. Below are a few of these sometimes overlooked global markets that stand out to us.
Dublin's real estate market took a beating after the 2008 Eurozone crisis, resulting in severe price corrections. However, the city's real estate market is in for a strong recovery thanks to improving economic conditions and affordable property.
- Population: 527K
- Price for 2-bedroom homes: $210,000 - $560,000
Following a fifteen-year-long civil war that ended less than two decades ago, Beirut has undergone considerable repair and reconstruction. Since then, this Mediterranean coastal city has been attracting a younger professional population and shows huge potential for growth.
- Population: 1.9M
- Price for 2-bedroom homes: $180,000 - $500,000
Melbourne's real estate market is highly-priced, in part because of its strong financial and tech sectors. With the value of the Australian dollar at a five-and-a-half year low and the "golden ticket" visa still available for more wealthy individuals, Melbourne is an attractive option for investors.
- Population: 4.25M
- Price for 2-bedroom homes: $320,000 - $675,000
Miami's prime residential market is just about as high as it was before the severe price corrections in 2008. The city offers potential investors safe jurisdiction, good title, and a great tan.
- Population: 419K
- Price for 2-bedroom homes: $275,000 - $900,000
*Sources: Savills, Candy & Candy, and Deutsche Asset & Wealth Management.
Find this story and more in our Spring 2015 South End Stakeholders's Report. Read all about the latest real estate trends, forecasts, and an in-depth look at the South End community.