New York, Boston Included Among Top Ten In Global Real Estate Markets
Boston and New York are a class of their own when it comes to discussion about prime real estate markets. New York has consistently been part of the discussion among prime real estate, while Boston has made its presence felt lately. According to the Boston Real Estate Times, an association for global investors has recently put these two markets among the top ten.
The survey, taken by the DC-AFIRE--an association catering to global investors and focusing on institutional real estate in the U.S.--have yielded results that included a strong overall market outlook, a growing focus on different risks worldwide ranging from geopolitical to climate change, and have shown that capital inflow to U.S. real estate remained unfazed by these conditions.
The industrial and multifamily sectors have remained to be viewed positively, with these categories being what respondents said would like to know more about. 80 percent of those who answered the survey had said that they would love 'increased industrial exposure,' while 71 percent have made it known they prefer 'multifamily exposure.'
Joining these cities and the U.S. on a global scale is Budapest, Hungary, along with Xi'an, Chongqing, and Qingdao (China), Rotterdam, Amsterdam, and Utrecht (The Netherlands), Porto (Portugal), and Ahemdabad (India). According to Mansion Global, this is despite a slow down that happened in 2018, where79% of cities raised prices.
Again, geopolitical issues hounded the world property market coinciding with cheap finance coming to an end. The index's performance, according to the report, was expected to weaken that year, and another series of weakening prices and purchases are expected in 2019. This was also meant to 'soften the blow' as emerging markets are struggling to make it through.
Hong Kong still billed as one of the world's top most expensive cities, saw a price stagnancy occurs. A 5.9% growth in prices was recorded, which enable it to fall from the price rankings. It always held its own against other property markets, but from the 7th place it managed to hold, the city fell down all the way to 43rd in the rankings.
The list had New York and Boston over the 1st to 4th places, respectively, depending on whether they are measured for exposure, stability, and security, or capital appreciation. The list also recognized a few emerging markets such as Buenos Aires, Ho Chi Minh City, Mumbai, Sao Paulo, and Rio de Janeiro.