Real Estate Journal Online

While many areas of the United States certainly are continuing to struggle with their real estate markets, those that can make the argument that they are “rarified” can expect to see gains in property values and demand as international investors and “high net worth individuals” return to the property market and are ready to buy[1]. According to a recent report from Citi Private Bank and Knight Frank, New York City – among other destination locations – can expect to continue to be “top destinations for primary and secondary residences in the next decade.” The report attributes the continuing demand to NYC’s “rarified status as [a] true global commerce hub.” NYC is joined by London, Mumbai, Shanghai and Sao Paolo as “the most important and alluring cities for big-dollar real estate purchases,” reflecting, many experts believe, the growing number of millionaires and billionaires in China, Japan and India.

New York and London are considered “traditional locations” for global real esate investors, but analysts predict that many investors will begin to “spread their wings by looking at different areas [of the world] in the coming months and years[2]. Many believe that far-eastern and Asian markets are set to grow, and six of the top ten biggest increases in luxury market real estate values in 2010 did occur in Asia, with Shanghai, for example, showing a 21 percent rise in value. NYC held its own with a 13 percent increase last year.

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[1] http://www.bankinvestmentconsultant.com/news/luxury-property-values-2672572-1.htm

[2] http://www.ipinglobal.com/ipin-live/365747/asian-property-popular-with-wealthy-investors