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PETALING JAYA (Dec 18): Berlin is one of the top cities among global homebuyers owing to a number of qualities that boost its investment potential, said global consultancy Knight Frank in its Prime Residential Cities Forecast.
The German capital has piqued the interest of various nationalities, from the US to the UK, and from the Turkish to the Chinese, for its “dynamic and youthful profile, its robust economy, and expanding tenant demand — only 15% of properties are owner-occupied in the city”.
Meanwhile, investors from China and the US were among the most active applicants in prime residential markets across the 13 cities tracked — namely Sydney, Singapore, Vancouver, Paris, New York, Miami, Madrid, London, Los Angeles, Hong Kong, Geneva, Dubai, and Berlin — albeit for different reasons.
“In China’s case, the strength of interest comes despite the ramping up of capital controls and amid tighter macroprudential measures at home.
“In contrast, for US buyers, rising employment, an upbeat economic outlook and the strength of the US dollar are behind the growing appetite for international real estate,” said Knight Frank.
Buyers from the US also continued to account for a key segment of demand in Miami; however, growth of their market share has flattened in part to the strength of the US dollar.
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