Investing in Real Estate: 5 Rapidly Growing International Cities Worth Considering
Investors around the world are always on the lookout for opportunities to expand their portfolio. While investing in real estate can be a lucrative option, it must be done carefully, especially in volatile markets. If you’re an investor looking for new opportunities, here are five rapidly growing international cities that are worth your attention.
1) Sydney, Australia
Sydney is the largest city in Australia and boasts wonderful weather year-round. It ranks 6th in the world on the Legatum Prosperity Index, based on various factors. The city has experienced substantial financial and economic growth over the years, even with some of the most expensive real estate prices in the world. Housing prices have been rising 7.25 percent a year for the past 30 years, making housing a prime investment. Sydney also had $243 billion in exports in 2014, making it a hub for international trade. For those unfamiliar with the market, there are plenty of companies that offer investment property advice in Sydney.
2) Panama City, Panama
Located in Central America, Panama City is the capital of Panama and is famous for the Panama Canal. It also has some of the most friendly banking regulations that attract clients from around the world. The city has almost 900,000 inhabitants and a tropical climate. The city’s economy thrives on the business brought in from banking customers, and its location on the ocean strengthens both import and export activities.
3) Jakarta, Indonesia
Jakarta is the capital of Indonesia and is the most populous city in the country. It’s known for its tropical climate, which attracts tourists from all over the world. Although tourism drives a substantial portion of Indonesia’s business, there’s an abundance of mineral wealth in the country, including everything from copper and gold to steel and oil, making it a strong export economy. Financial transactions and lending have traditionally been difficult due to infrastructure problems. As a result, investors have put their money into promising startups that aim to solve these issues while delivering solid returns.
4) Chicago, IL, USA
Chicago is the third-largest city in the United States and is known as the “Windy City” of the Midwest. It lies along the shores of Lake Michigan, which is one of the Great Lakes of North America. Chicago has always been a United States financial hub, second only to New York City. The city’s commercial real estate empires and imports and exports from the Great Lakes make it an attractive option for investors. Recently, tech firms and startups have been flocking to Chicago, inspiring bright hopes about the city’s future.
5) Cebu City, Philippines
Cebu City is the second most populous city in the Philippines, after Manila, and is known as the Queen City of Southeast Asia. Its tropical climate and location in the center of the Philippines make it an attractive trading hub and a trading partner for exports. There has been an economic shift in the country under its new president, Rodrigo Duterte, who will hold office until 2022. New economic partners in China have been pouring investments into many parts of the country. Cebu City continues to grow rapidly, with business, tech, and real estate construction projects making it popular among investors.
There are many cities worldwide in which you could invest your money, but only a handful continue to thrive. The five cities listed above are worth considering for investors looking to diversify their portfolio. Be sure to do your homework and make sound decisions involving any investment you make.
What do you think about these cities as investment options, and what would drive you to invest in them?