When it comes to real estate, you know it’s all about location – and some locations are just inherently better than others. Much of the location equation is regionally determined, but when you start looking worldwide, a few areas of the globe just plain stand out. Check out Forbes’ latest evaluation of global real estate and the top three places on the planet to own a home these days:
If you’re looking for fast appreciation, then Brazil is likely going to be a good place to buy for you. Last year, the country’s average home values rose by 13.7 percent. With a dynamic and emerging market and prime real estate in areas like Ipanema going for millions of dollars, Brazil is not just a gorgeous view out the window; it’s also a pretty sound investment these days.
Known for over-the-top luxury and out-of-this-world real estate developments, Dubai struggled early in this decade but made a solid comeback in 2012 as housing prices rose 19 percent in one year. Want a standard three-bedroom apartment (slightly less than 2,000 square feet) in one of Dubai’s beautiful apartment towers? Be prepared to shell out nearly a million dollars to get it.
1. Hong Kong
The Chinese government may be battling a real estate bubble with all its might, but thus far stringent lending requirements and curbs on development appear to be feeding the appreciation frenzy rather than slowing it down. Housing prices in Hong Kong rose 23.6 percent in the last year alone, and a three-bedroom, 1,800-square-foot house in the city could cost you nearly $5 million. At least for now, based on rising demand and skyrocketing housing values, Hong Kong is the “best location on earth."
by Carole VanSickle