The Daily Telegraph has just published its list of the top 10 global property hotspots in conjunction with Savills Research. Surprisingly enough given the recent surge of foreign, cash-rich investors buying high end properties for sale in London, our capital city only scraped in by the skin of its teeth, occupying 10th place.
There are some surprises on the list, along with cities that have long been desirable. So, if you are looking for London properties for sale or fancy an alternative but similarly prestigious destination, here are the cities regarded as hot right now...
Hong Kong
Properties for sale in Hong Kong tick all sorts of desirable boxes. Long regarded as exotic, glamorous and luxurious, Hong Kong offers a high quality of life to those who can afford it. Prices of high end accommodation have reportedly risen by 65% since 2008. Hong Kong Island is the place to look for residential property for sale.
Moscow
Coming in second place, Moscow properties for sale are now regarded as some of the most desirable on the planet. The Russian capital is famous for its onion domes, twisted spires and luxury apartments. Tverskaya and Patriarchy Ponds are amongst the most popular with both buyers and tenants.
Sydney
Sydney properties for sale benefit from amazing views and of course, great weather. You get more for your money. Investors are advised to look at terraces, mansions and fabulous high rise apartments in the eastern suburbs in areas such as Darling Point, Double Bay and Elizabeth Bay.
Paris
No surprises here! Despite reports of stagnating prices and trouble in the markets, Paris properties for sale are still regarded as some of the hottest in the world. Properties for sale in Paris situated in the “Ile St Louis” are reportedly regarded as some of the most sought-after in the entire city.
Mumbai
Mumbai secured fifth place on the list of the top 10 global property hotspots, thanks to its real estate prices, world-class sporting grounds, consulates and cultural landmarks, monuments and amenities. Properties for sale in South Mumbai situated near the business district are regarded as the most desirable – and rank amongst some of the most expensive in the world.
Shanghai
Properties for sale in Shanghai in the desirable Taipingqiao Lake development are some of the most sought-after in this buzzing city. Furthermore, prices are reportedly expected to double within the next decade.
New York
A list of global property hotspots wouldn’t be complete without the Big Apple! Properties for sale in New York have a list of benefits as long as your arm. They’ve got kudos, easy access to the coast, benefit from close proximity to landmarks such as Central Park and are generally regarded as a sound investment for owner-occupiers and landlords alike. However, properties for sale in New York need to be treated with caution. In this city, the ‘location, location, location’ mantra most definitely applies. At present, savvy investors are buying property to the east of Lexington Avenue on Manhattan’s Upper East Side.
Tokyo
One of the most expensive cities in the world, Tokyo is a destination quite unlike any other. Luxurious residential developments command high prices and rents. Minato Ward is currently being touted as the most desirable area.
Singapore
This is the city to look at if you want a luxury apartment overlooking water or what’s been dubbed as a ‘resort-style’ home with all the trimmings. Apartments over here trump luxury apartments for sale in London, with their cutting edge home technologies and sky gardens.
London
Luxury London properties for sale in areas such as Kensington and Chelsea and Notting Hill make the city one of the most sought-after places to live in the world. Fulham is popular with young professionals, whilst Kew is the darling of the slightly older set.
Check the My Homes Unlimited listings for properties for sale in London and other desirable cities.
Source: Telegraph online, Savills.