New York Ranks First Among Global Real Estate Markets
New York real estate tops global markets, according to the Boston Real Estate Times. The city, the representation of the American Dream, tops the charts based on its exposure, stability, security and capital appreciation.
Boston and New York are a class of their own when it comes prime real estate markets. New York has consistently been the discussion among prime real estate, while Boston is making its presence known.
The survey, by DC-AFIRE, yielded results that included a strong market outlook, growing focus on different risks worldwide ranging from geopolitical to climate change. The results show that capital inflow to U.S. remained unfazed by these conditions, especially the New York real estate market.
The industrial and multifamily sectors have remained to be viewed positively. 80 percent of those who answered would love ‘increased industrial exposure,’ while 71 percent prefer ‘multifamily exposure.’
Joining these cities and the U.S. are 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 slowdown in 2018, where 79% of cities raised prices.
Hong Kong is still one of the world’s top most expensive cities, saw a price stagnancy occurs. The survey record a 5.9% growth in prices, making it fall from the price rankings. It always held its own against other property markets. The city fell down to 43rd in the rankings from 7th place it held.
The list had New York and Boston over the 1st to 4th places, 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 which show a significant amount of capital appreciation.
Source: Business Times