We live in a world where it is crucial to anticipate major economic changes and new trends in order to make sale and investment decisions that are in our best interests. Following the habits of “High-Net-Worth Individuals*”, we discover the cities of tomorrow, metropolitan areas on the rise, new desirable destinations, and the emerging lifestyle trends of a globally mobile population.
*HNWI: Individuals or families holding fortunes of between one and thirty million dollars.
Owning a property, or even several, is often a personal and professional achievement. However, given the numerous possible destinations and the uncertainty on the political and economic front, deciding where to buy can prove a delicate task.
The Charles Marcus top 20 cities index: based on practical, emotional & financial aspects.
RANKING & CITIES
- Hong Kong
- New York
- Los Angeles
- San Francisco
The highest climber on the rise: Lisbon is now considered as international destination in its own right, with the best quality of life, thanks to its sunny climate, combined beach and riverfront location, friendly inhabitants, excellent cuisine, low cost of living and safety. Also one of Europe’s fastest growing markets, many business people are selecting Lisbon to develop their companies, while retirees are flocking to the city to enjoy the major tax benefits granted by the country to those who move there.
DESTINATIONS TO WATCH
Whether capital cities, the hottest vacation spots, or untouched slices of paradise, here is our selection of up-and-coming destinations. Tomorrow’s top 10 destinations for today’s investments.
1. LISBON, PORTUGAL
The Portuguese capital has become a truly international city in recent years, attracting an increasingly affluent clientele. The city’s ambitious high-end renovation programme for the city centre and the tax benefits granted to investors and retirees are adding new elements to Lisbon’s already plentiful natural assets: sunshine, gastronomy, quality of life, and the warm welcome.
Popular: Lisbon neighbourhood, Cascais, Sintra and Estoril.
2. PORTO, PORTUGAL
Following in Lisbon’s wake, Porto is drawing a new international and affluent clientele. The city offers numerous opportunities on the banks of the Douro and the surrounding hillsides. The birthplace of Port, it also hosts an active cultural programme and is posting vigorous economic growth.
Popular: Foz neighbourhood, ideally located between the sea and the river.
3. MADRID, SPAIN
The Spanish capital is bursting with museums, adorned with stunning architecture, and reputed for its zest for life. Old Madrid is home to a mixture of monarchical monuments and the everyday life of the Plazza Mayor and its surroundings. With its vast green spaces just a stone’s throw from the centre, this dynamic city knows how to make the most of the country’s growth.
Popular: The residential French quarter hoe to the Conde de Orgaz and Saint-Exupery French schools in La Moraleja.
4. MONTREAL, QUEBEC
Montreal’s buoyant economic climate is boosting its development and international profile. the city’s assets and resources place it in a strong position o the world stage among those with the highest success potential. Montreal is posting record performances in employment, and the city is leading the way in promising niche sectors like artificial intelligence. Google and Facebook have recently moved major offices here. The market in Quebec is thriving, but remains stable, and increasing numbers of international investors and drawn to Montreal.
Popular: Griffintown, Plateau Mont-Royal, Outremont, Mount Royal and Old Montreal.
5. MIAMI, US
This international city at the crossroads between the two Americas is also open to Europe, the Middle east, and Asia. In addition to the year-round sunshine, business is booming (cargo and cruise port, healthcare, aviation, new technology etc). No small wonder it is attracting wealthy individuals with its prestigious events: such as yacht shows and contemporary art amd design exhibits.
Popular: Brickwell, Edgewater, Downtown, and Miami Beach.
6. LONDON, UNITED-KINGDOM
London will retain its status as an internationbal capital even after Brexit: finance and real estate capital, an entrepreneurial stronghold, the home of top universities, the capital of artistic creation, and above all a cosmopolitan and tourist capital. it may have dropped to sixth place I the top cities ranking, but Londonis still a leading international destination.
Popular: The upscale western areas have maintained their reputation as chic family neighbourhoods with parks and luxury shopping sheets.
7. GENEVA, SWITZERLAND
A world-renowned crossroads at the centre of Europe, Geneva is one of the world’s most desirable cities. The headquarters of numerous international organisations, banks and multinationals, the city offers an unequalled quality of life and unrivalled economic stability just a stone’s throw from the Alps and by the European’s biggest lakes.
Popular: Cologny, Conches and the centre of Geneva: the Old Town, Les Quais and the Tranchees area.
8. ATHENS, GRRECE
Fames for its rich cultural offering and prestigious past, Athens also enjoys an exceptional climate. This major tourist destination is one of Europe’s most southern capitals. Having returned to strong growth, the city’s property market is booming.
Popular: Anaktora, Kolonaki, Akropolis, the city’s historical centre and the Arthenian Riviera.
Monaco needs no introduction, with its unique way of life, its watertight security, its unrivalled political stability and its severe lack of construction space. Located less than thirty minutes from Nice airport (the second busiest airport in France), Monaco is just two hours from most European capitals.
Popular: The irreplaceable Carre d’Or and its casino views. Larvotto beach, Fontvieille, La Tour Odeon.
10. BIARRITZ, FRANCE
Ideally located between the Pyrenees and the Atlantic Ocean, the Basque Coast offers both rural, authentic countryside and seaside resorts renowned for their surfing spots and golf clubs. Regulated urban planning and respect for tradition are prized in this dynamic market buoyed by short sale times at reasonable prices.
Popular: Biarritz beachfront, Chiberta and further north along the coast, Hossegor.
MARKET & TRENDS
1. Luxury real estate is becoming an entrepreneurial strategy. More than just a lifestyle project, luxury real estate is becoming an extension of the entrepreneurial spirit.
2. The market must be increasingly diverse. In addition to the usual apartments and mansions, entrepreneurs are investing in a broad range of high-end properties, with a view to asset diversification that provides a certain degree of profitability.
3. Millennials are shaking up luxury codes. Born between 1980 and 2000, the first “digital natives” are the focus of attention by the luxury industries, which must imperatively gain their custom.
4. Crypto-currencies have moved into the real estate market. Crypto-currencies and blockchain are garnering increasing attention both as an investment tool and a store of value. They are emerging as a particularly relevant option for transactions within the luxury market.
5. Asia outstrips North America in number of billionaires. The total population of billionaires in Asia now numbers 784, exceeding the US and Canada (727) for the first time.
6. The USA is still no. 1 for HNWI. The United States easily rank first among countries with the most HNWI However, its dominance is tending to wane due to pressure from the Asian continent.
7. France and Portugal are profiting from Brexit. The two biggest beneficiaries on the new European luxury real estate map are France and Portugal, attracting expatriates formerly living in the UK.
8. Hong Kong at the top of the City Index Asia’s economic centre. Hong Kong is no. 1 on the top international cities for HNWI. But the lack of space also means that the price per sq. m. in Hong Kong is higher than in any other city worldwide.
9. Toronto: a pleasant surprise.The economic capital of Canada has jumped up 6 places on the City Index, moving into 5th position among the top cities. Its economic prosperity and its cultural, sporting and gastronomic life all mirror the high-quality property portfolio here.
10. Portugal continues to climb. With two cities (Lisbon and Porto) among the top destinations to watch, Portugal has confirmed its economic recovery in 2018 and its attractiveness on the luxury property market
Source: Barnes Global Property 2019