Wealthy individuals looking to invest in real estate should check out Tel Aviv, Dublin, and Chicago.
Those are three of cities identified on a new list of “rising stars” for real estate investors from real estate developers Candy & Candy, Deutsche Asset & Wealth Management and Savills.
The 12 cities on the list are set to “outperform the prime world cities and show strong residential price growth as they become more fully invested” in the next few years, and may offer lower-priced alternatives to “safe haven” cities like London and New York, the report writes.
Here’s the list, from most expensive residential property to least. “Prime” real estate is at the top-tier of the market, in the most desirable neighborhoods; “Secondary” real estate is the bulk of the residential market — mainstream properties in ordinary neighborhoods.
And a map showing where those cities are located:
According to the report, real estate is becoming an increasingly mainstream asset class for ultra-wealthy investors. Investors from markets — Germany, Japan and the United States — account for 39% of global real estate holdings by ultra-high-net-worth individuals (those with assets of $US30 million or more).
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