![]() Investors are still attracted to destinations based on a country’s economic and financial stability which continues to drive London’s appeal. ![]() ![]() London comes in behind Berlin, Paris, Lisbon, and Barcelona. London ranks as #5 on the list of top European cities popular with property investors according to Tatler Magazine, Singapore edition. How does London compare to other cities when it comes to investment from overseas? However, house prices have still climbed 4.1% across the capital despite many homebuyers looking outside of London for more space at a more affordable price tag. So what about London? Despite the stamp duty holiday causing house prices to skyrocket across much of the UK market, growth in London has been more muted. At 28.9%, Wellington has seen the sharpest increase in house prices since the start of the pandemic, with Auckland not far behind with an uplift of 26.4%, and Vancouver has the third spot with house prices up 18.8% since the start of the pandemic, Mortgage broker, Enness Global Mortgages, analysed house prices across 17 major cities worldwide and found that the major cities of New Zealand are leading the way with pandemic house price growth. Since December 2019, at the start of the pandemic, house prices have increased by an average of 8% across the globe. This is particularly true of cities in China and the Middle East, which are rapidly catching up with their European and North American peers. For many of the rising cities according to the article, long-term investments in governance and economics have begun to pay off. There was a ton of movement throughout like in the case of Toronto, which climbed nine spots to take second place. Surprisingly London ranked at the top of the chart again, which goes to show that globally speaking even with Brexit and Coronavirus, the forecast and outlook is quite strong. This analysis covers four dimensions-personal well-being, economics, innovation, and governance - which are key determinants of a city’s ability to attract talented human capital, generate economic growth, increase competitiveness, and ensure stability and security, respectively. Now, what about future prospects? The Global Cities Outlook or GCO examines those creating the conditions for future status as major global players. Global Cities Outlook – what the future may hold Another notable comment is the big jump by Beijing which has been attributed to aggressive investment in human capital while becoming more stable. The top 4 cities have kept their spots since 2019 with London in the number 2 spot behind New York. The most recent rankings include 151 cities across all continents, compared to 130 in 2019, reflecting the increasing importance of emerging geographies such as the Middle East, China, and Central Asia The GCI assesses how globally engaged cities are across five dimensions: business activity, human capital, information exchange, cultural experience, and political engagement. Let’s start with this Kearny Global Cities Index for 2020. In this article, we’re going to look at London relative to other global cities and see how it compares in the eyes of buyers and property investors. Considering buying in London or New York or Paris and wondering how London compares to other global cities?
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