A new report has taken a look at ultra-high-net-worth investment in residential property around the world, and highlighted 12 “cities on the rise” that are “likely to outperform the prime world cities with growth from a low base as they become more fully invested.”
The Candy GPS Report, produced by Candy & Candy with Deutsche Asset & Wealth Management, takes a look at investment opportunities in Beirut, Cape Town, Chennai, Chicago, Dublin, Istanbul, Jakarta, Lagos, Melbourne, Miami, Panama City and Tel Aviv.
The report notes:
“With many world city prime markets now looking fully valued, the question is: which cities will show growth next? Investors have already been spreading their wings away from the established safe havens and looking at alternatives, both in secondary markets and second tier cities. … We have identified 12 cities around the globe that don’t have world city status but which we see as rising second tier cities with the potential to show strong residential property price growth as global investors seek alternative locations.”
While some of the cities — Chicago or Melbourne — may be high on global investors’ shopping lists, others are a bit unexpected, especially those in fast-growing emerging economies.
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Loretta Clodfelter is production and copy editor with Institutional Real Estate, Inc.
