At a WORLDWIDE glance, whether as an investment or a second home, the residential property market continues to be a hot favourite for plum returns. We pick the developments in four global cities that should be on your radar.
Dubai: Sizzling Sands
Luxury home prices in Dubai have increased by more than 100 percent in the past two years. To say the scene is hot is accurate in more ways than one. Among the contributing factors is a fast-growing expatriate population driven by the emirate’s focus on becoming a business hub and launchpad to the rest of the Middle East. Dubai has also worked hard to position itself as cosmopolitan, with a lively, year-round calendar of events.
Rising from the sands is the first-ever Bugatti Residences, developed by the luxury supercar manufacturer and local property developer Binghatti. Standing
at 42 storeys, its sinuous form is wrapped in balconies on every floor. There are 171 apartments and 11 penthouses, all of the latter having a private terrace pool with views of Downtown Dubai. A car lift can transport the resident’s vehicle to his or her floor, where it can serve as a piece of art.
London: Green Appeal
London inevitably comes up in discussions of overseas property investment. Among the key reasons are the city’s financial stability, rental income and capital appreciation. Last year, prices dropped by approximately 2 percent, presenting further opportunities.
Of course, high returns tend to apply to projects in central London. Ticking all the boxes is Bankside Yards by Native Land, on the South Bank of the River Thames, master-planned by PLP Architecture. Positioned as the UK’s first fossil fuel-free, mixed-use development, it encompasses eight new buildings, including 14 Victorian-era railway arches.
Residential options are Opus, which will be launched later this year, and the Mandarin Oriental branded residences. Occupants will live easy knowing they’re served by a fifth-generation energy network that produces zero emissions across the entire site. Additionally, landmarks such as the Tate Modern and the City of London financial district are both easily walkable.
Tokyo: Castle On A Hill
With a weak yen, stable investment climate and low interest rates, Japan continues
to remain attractive to investors, especially in Asia. Other inducements include
a compelling way of life, where unspoilt nature is only a short train ride away, and
a culture of excellence that permeates everything that the locals do.
The same can be said of the homes the Japanese design and build, including the recently launched Poltrona Frau Suites Motoazabu in Tokyo’s Minato Ward, conceptualised by Satoshi Kurosaki of Apollo Architects & Associates. The branded residence’s formidable facade of high-grade Aji stone references Japanese castles, while residents can feast their eyes on sweeping views of Tokyo from the family lounge – all while reclining on Poltrona Frau furniture, some of which is made using company’s renowned, buttery-soft Pelle Frau leather.
Sydney: Desirable Down Under
If Australia’s residential market has been making headlines recently, driven by sustained demand, insufficient new housing projects and high immigration, Knight Frank’s Wealth Report ranked Sydney as the frontrunner in its rental forecast this year. With the city’s vacancy rate well below the national baseline, that spells good news for investors and makes projects such as Aura, developed by Aqualand, all the more appealing.
Located in North Sydney and a stone’s throw from the harbour, Aura already stands out for being part of a mixed-use precinct that promises to inject new life into the neighbourhood. The curvaceous structure by renowned firm Woods Bagot contains 371 luxury residences in one- to four-bedroom configurations. For those looking to settle in, two penthouses are still available, inspired by the top-floor apartments of a classic Parisian building and with a similar feeling of volume and elegance.
The information in this article is accurate as of the date of publication.