stay without the need to extend through the
Immigration Department.
Switzerland’s property market is heating up
and there are concerns about a property price
bubble looming. So far there seems to be a
strongly rising demand for property in the
prime ski areas of Verbier and St. Moritz, where
supply is short.
Wealthy buyers look to target
a new range of cities in which
to invest
Smart and wealthy property investors are
taking time to look around at less obvious
cities in their search for great investments,
with Melbourne, Tel Aviv and Chicago set to
outperform some of the traditional locales.
A report produced by developers Candy &
Candy, Savills World Research and Deutsche
Asset & Wealth Management lists 12 world
cities they see as having the potential to
demonstrate strong residential property price
growth in the near future. Price increases in
these cities have been lower than those in the
upper echelon, making them more attractive
as places that could yield a good return.
On the list can be found well-established
global cities as well as those in emerging areas
of the world. The list includes Tel Aviv at the
top, followed by Melbourne, Miami, Chicago,
Dublin, Panama City, Beirut, Istanbul, Cape
Town, Jakarta, Lagos and Chennai in India.
As real estate plays an important part of an
increasing number of portfolios, Ultra High Net
Worth Individuals (UHNWIs) are looking around
and becoming bolder in their selections. In
turn, property values and rents are likely to
increase in more such cities around the globe.
The report looks at the sort of characteristics
that add value to this list of secondary cities,
with English as a first or second language an
important consideration for buyers. New technology centres, financial centres, favourable
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conditions for international companies and
a large, young and educated population also
play as important factors.
It was also found that for the present, Germany,
Japan and the United States together account
for 39% of all ultra high net worth direct real
estate investment activity. And five cities
account for 40% of all real estate holdings
in this class: Hong Kong, London, Moscow,
Singapore and New York.
Ireland & Spain eyed
by leading-edge investors
once again
Two countries where property values were
heaviest-hit by the global economic downturn
are now seen as offering excellent buying
opportunities.
As competition heats up in the race to accumulate prime assets in Europe’s major real estate
markets, Ireland and Spain are recognized as
places where the markets are recovering and
value is to be found, according to a forecast
published jointly by the Urban Land Institute
and PwC.
The report, “Emerging Trends in Real Estate
Europe 2014”, finds 71% of respondents feel a
shortage of suitable assets for acquisition will
have at least a moderate impact on business
this year. Nearly six in ten say prime property in
Europe’s core markets is overpriced.
Investors seem prepared to take on more risk
as they search for returns. Dublin is one of
the biggest beneficiaries of this new reality.
Last year it was ranked No. 20 in city investment rankings while this year, it has gone up to
No. 2. A combination of price and the country’s
improved economic outlook have set the tone.
Spain is another recovering market gaining
wide attention. Of those surveyed, 67%
identified good buying opportunities there.
The acquisition of the Parque Principado mall
in Oviedo by Intu and the Canadian Pension
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