According to the Knight Frank 2017 Wealth Report, there are five global cities for real estate investors to watch this year. What sets these markets apart from others is the locale’s stake in creating places where people want to work, shop, play, and live. Cities that provide a vibrant environment for their residents result in luxury real estate markets that are thriving.
Amsterdam: The Netherlands
Consistently ranked as one of the most livable cities in the world in various publications, Amsterdam has a thriving start up scene for businesses. Aydn, which handles payments for businesses like Facebook and Netflix, is one of those and is valued at over $1 billion US dollars. Also the high quality of living and influx of wealth has contributed to a vibrant and thriving luxury real estate market.
Miami: United States
Next, Miami boasts benefits like lots of sunshine as well as generous tax incentives that have drawn in the wealthy investor. The addition of Microsoft’s innovation center along with new art galleries and restaurant districts continue to keep this market very high in demand.
In addition to home grown tech stories like Flipkart and Mu Sigma, each worth over a billion US dollars, Begaluru (formerly Bangalore) is home to Uber, Airbus, and Visa. The city is also home to several world class global research institutes. The city’s focus on innovation has brought wealth as well as a thriving luxury real estate market to this part of India.
The next city’s economy is the best performing in the country, driven by both tourism and business growth. Recent years have seen an explosion of start ups in the city, as well as an expanding cultural scene that includes boutiques and a thriving nightlife scene.
The Economist Intelligence Unit rates Melbourne as the “world’s most livable city.” A boost in population as well as development has many forecasting that the city will surpass Sydney by 2036. A slew of luxury residential and commercial properties are currently in the works in this fast growing city.
So do you have any luxury real estate investments in these cities? If not, maybe you should consider investing in one of these cities for your next venture.