Prices are still rising in Southeast Asia. The trend is also on the rise in America, as well as in the major European capitals. According to Kale Realty, a major real estate broker based in Chicago, most major cities in the world will continue to see their real estate valuations increase in 2019.
Paris is expensive. Very expensive according to the real estate consulting company CBRE. But it’s nothing next to Hong Kong. The company compared the prices of the residential stock in the main metropolises of the planet. Hong Kong, the vertical city, prevails, despite extremely small surfaces. The price per square meter is approximately $13,356.
Despite the introduction of a special registration fee and tougher mortgage lending conditions, prices have continued to rise, up 13.5% in 2017 and 7.2% of the first half of 2018. Next comes London ($9,663 / m²) and New York ($7,941 / m²).
The cities of the Old Continent still share the top of the table, with a special mention for the British capital: In Europe we find that the residential property market in central London has rebounded significantly, with an average 86% increase since 2009. In the suburbs of London, growth over the same period has been a little slower (63%), a gap that is gradually being reduced, however an overall price increase of 14.8%. % was observed in 2016 alone, which gives investors a very significant growth outlook.
Istanbul, an opportunity to seize?
If Paris remains a city dominated by tenants according to the study, the capital has seen a real jump in the interest of foreign investors and now attracts more foreign buyers than in the last 15 years.
Among the cities with the cheapest residential real estate, Istanbul ranks first ($1,059 / m²). The fifth largest city in the world with 14 million inhabitants is perceived by CBRE as an interesting investment opportunity. Last year real estate prices rose by 15%, as did the rental market (+ 12%). Follows Johannesburg ($1,146 / m²) and Cape Town ($1,558 / m²).
US cities on the rise
The other conclusion established by this study is the price increase in the major US cities. In Chicago, they recovered by 2.2% last year and should continue on this path in 2019. The average price of a house in the former industrial capital of the country is $165,018. On the West Coast, it is the imbalance between supply and demand that pushes up prices in Los Angeles, not to mention the large number of single-family homes and the strict management of rents in the city.
Miami continues its singular trajectory with prices higher than 59% compared to the national average. A period of limited supply has pushed real estate prices up and a rise in new housing construction has recently generated a more sustainable level of price growth.…