Thinking of buying your ideal high-end Pied à Terre where there continues to be strong capital growth? Then you might want to consider these locations!
Hong Kong has been one of the top locations for many years to invest in top-end luxury properties, but residential property prices during 2018 have dropped with Singapore taking over. Singapore is the top Asian city where there are the fastest-growing prices for luxury homes in the world.
Singapore’s strong performance was driven by the limited availability of luxury homes to buy and a strong market outlook in the first half of 2018. Prime property prices are up 13% year-on-year.
It is reported that on average, the price of luxury property climbed by 2.7% across the entire index, which tracks values in the top 5% of the housing market in 43 cities worldwide.
This is the weakest performance in annual terms for almost six years, due to a combination of uncertainty surrounding the outcome of Brexit, rising interest rates across major economies, countries imposing tighter and higher taxes on overseas buyers/investors as well as lower demand and high supply of luxury priced properties in some markets restricting price growth.
So, the top 10 cities ranked by annual luxury house price growth over a 12 month house price change are:
1. Singapore - 13.1%
2. Edinburgh - 10.6%
3. Madrid – 10.1%
4. San Francisco – 9.5%
5. Tokyo – 8.6%
6. Auckland – 8.5%
7. Toronto – 8.5%
8. Moscow – 7%
9. Cape Town – 7%
10. Guangzhou/Canton, Southern China – 6.3%
For further information please contact Premier Property Search at enquiries@premier-propertysearch.co.uk or call Nigel Sellers + 44 (0)1962 793100.
