For those who are planning to invest in a real estate business in other parts of the world, New York City, London, and Singapore are the recommended cities for real estate investment.
The three cities have recently developed a reputation as a safe place for foreign investors coming from all over the world. Investors would find it hard to refuse on investing in these cities because of its relative liquidity, easy accessibility, and stable prices.
New York City has recovered its market since the crisis that happened in 2008 and it remains as one of the best cities in terms of real estate investments from all over the world. According to Forbes, the three cities have the emphasis on luxury real estate.
Before the housing crash that occurred in New York in 2008, the city has been catering luxury residential property worldwide. This was considered as one of the interesting developments in the city. Businesses have seen the potential of the luxury real estate property in securing investment and income for the entire city.
In 2006, luxury apartments in London have doubled its price since 2006 while properties in New York have increased up around 50 percent. The competition between the three popular cities including other areas in the world becomes tougher than ever.
The stability of the real estate investment in the US has helped a lot of financial institutions. The Federal Reserve has kept their short-term interest rates low due to the positive outcome on real estate investing.
New York and Hongkong compare to the big three cities of London has a low real estate luxury. In Hongkong, the average price per square foot of apartments is $4,682, for New York the price is at $2,586, and for London the price is $4,480.
The upmarket estate agency Knight Frank revealed that there was almost 1,638 luxury real estate properties sold on London for more than $5m (around £3m) in 2014 compared to the two cities mentioned.
According to upmarket estate agency Knight Frank, there were 1,638 properties sold in London for more than $5m (around £3m) in 2014, compared with 796 in Manhattan and 596 in Hong Kong. In New York and Hongkong have high rents in their properties and garnering an additional $1,000+ per month for owning a $2 million luxury apartment.