During the pandemic, the property markets around the world suffered almost a disastrous crash. With people cooped up in their homes and little to no chance to go out, no one was interested in switching houses. However, with the end of the pandemic and slow return to normalcy, it is precisely this experience that has made property markets thrive even more than they used to! So, where best to focus your house-hunting efforts? And what are some of the most popular places to invest in property? Join us for our list of the most desirable property markets in the world to find the answers to these questions!
The stability of government, reliability of the economy, and overall productivity and prosperity all make Geneva an incredibly attractive place for property investors. Plenty of people are interested in either investing in a second home abroad or moving entirely. Unfortunately, Geneva also starts what will be something of a trend for our list. Being so popular and a relatively affordable place to live, the properties in the local property market are costly. Something that will likely turn most in favor of renting rather than opting to buy.
Hong Kong, China
Hong Kong has long been the leading figure in China when it comes to the property market. What makes it one of the most desirable property markets globally are the many profitable opportunities this city holds. Its expansion and economic drive have long been known. Yet, interestingly enough, the somewhat unstable political climate has caused a slight decline in its popularity. While it is hardly in danger of crumbling, Hong Kong has seen a rise of competitors in the Chinese market. It should also be noted that it is right up there in the list of the most expensive property markets too! It contributes to the real estate myths of needing to be rich to invest.
New York, United States
The popularity of New York City has never really waned, even if it too took a hit during the pandemic. Now, the popularity of open-plan homes with plenty of amenities on and off property has climbed to new heights. The city alone has plenty to offer. Its bustling economy and plenty of job opportunities are a draw, too. Add to that the proclivity of the New York property market to follow trends and pander to the buyers’ needs, and it has taken off with a bang. Not even the prohibitive prices, some of the most expensive in the world, are enough to drive off buyers.
London, United Kingdom
What New York City is to the United States, London is to the United Kingdom. The city boasts some of the best schools and universities in the country, outstanding facilities, incredible amounts of cultural and artistic events and organizations, and more than decent nightlife. In addition to being the economic center of Britain, there are very, very few cities in the United Kingdom capable of matching its popularity. And that popularity is significant even on the world level! In fact, the property market of London fared quite a bit better than most during the pandemic. And the situation has only improved since!
Vancouver has long been known as one of the best places to live around the globe. So, it should come as no surprise that its property market made it onto our list. While still quite expensive, it is also perhaps the cheapest entry! However, what makes it competitive are the cultural heritage, exceptional schools, and overall cost of living.
Unlike Vancouver, Sydney very much returns to the ‘stereotype’ we have established so far. It is expensive; it is competitive; it is booming once more. The Sydney property market fits into the mold and does little to deviate from it. Although, it bears mention that the city is startlingly beautiful. And its modern architecture is surprisingly soft as it blends in with the natural beauty of the area. So, while its economic growth and job opportunities recommend it, it is also not a bad choice for lovers of scenic beauty, which explains why so many people move internationally to make Sydney their home. So, if you, too, want to leave the US to become an ex-pat, Sydney is undoubtedly a good choice.
Being primarily a tourist-focused city, Tokyo has done surprisingly well for itself on the property market. The pandemic did hit hard, yes. But it makes it’s bouncing back and recovering all the more impressive. In addition, the ever-present drive to improve and build more housing, including smart homes, ensures the market’s continued popularity. It also helps that while expensive, the Tokyo property market is not quite as dear as the heavy hitters. It is actually one of the more inexpensive markets on our list of the most desirable property markets in the world!
Interestingly enough, the property market in Berlin shows startling similarities with New York. The city is doing its best to produce modern, cozy, and competitive homes. Yet, most of its inhabitants are stuck renting rather than owning their homes. Still, the purchasing drive caused by the pandemic has infected this city as well. And the market is slowly growing even more competitive, which means that the overall quality of homes has only risen. Excellent news for the sellers, but not so much for the buyers’ wallets, as it is once more proven it is impossible to avoid the climbing prices.
The most desirable property markets in the world – delivered!
We hope you have found the list of the most desirable property markets in the world we have compiled informative and helpful! While it is not easy to take part in any of these markets, it is not impossible! Even in New York or Hong Kong, the absolute most expensive entries on our list, it is possible to find affordable housing. So, do not give up, and good luck in your endeavor to find the perfect home for you and your family or to invest and make a fortune!