Looking for an investment property or second home? The residential property market continues to be a popular market with big gains to be made. In fact, Knight Frank’s Wealth Report 2024 reveals that 21% of Australian ultra-high net worth individuals plan to invest in residential property this year. Here are the top 5 cities and luxury developments to put on your property portfolio’s radar.
5 Top Cities and Luxury Developments to Add to Your Real Estate Portfolio
Dubai: scorching sand beaches
Bugatti Residences in Dubai.
Luxury home prices in Dubai have risen by more than 100% in the past two years. To say the situation is hot is accurate in many ways. One factor is the boom in expats, as the emirate focuses on becoming a business hub and springboard to the rest of the Middle East. Desert climate aside, Dubai has worked hard to establish itself as a cosmopolitan city, hosting vibrant events throughout the year.
Rising above the sandy beach are the first-ever Bugatti Residences, developed by the luxury supercar maker in collaboration with Dubai property developer Binghatti. The 42-storey residences are curved with balconies on every floor. There are 171 apartments and 11 penthouses, the latter with private terrace pools for swimming with views of Downtown Dubai. Residents can bask in the building’s French Riviera ambience and the automaker’s heritage; a car lift will transport residents’ cars to each floor, where they will function as works of art.
London: Green Appeal
Bankside Yards, London.
When discussing overseas real estate investment, London always comes up in the discussion, mainly due to its financial stability, rental income and rising property values, with prices falling by around 2% last year, creating further investment opportunities.
Of course, projects in central London tend to have high profit potential, and Native Land’s Bankside Yards on the south bank of the Thames ticks all the boxes. Masterplanned by PLP Architecture, the project is positioned as the UK’s first fossil-free mixed-use development and includes eight new buildings, including 14 Victorian railway arches.
Residential options include Opus, due to launch later this year, and Mandarin Oriental-branded Residences. Residents can live with peace of mind knowing the entire estate is powered by a zero-emission fifth-generation energy network, plus landmarks such as the Tate Modern and the financial district are within walking distance.
Tokyo: Castle on a Hill
Poltrona Frau Sweets Motoazabu in Tokyo.
A weak yen, stable investment climate and low interest rates make Japan an attractive destination for investors, especially from Asia. Other attractions include an appealing lifestyle immersed in nature just a short train ride away and a great culture that permeates everything locals do.
The same can be said about the homes the firm designs and builds, such as the recently opened Poltrona Frau Suites Motoazabu in Tokyo’s Minato Ward, conceptualized by Apollo Architects’ Satoshi Kurosaki. Made from premium Aji stone, the brand’s residence’s imposing façade references Japanese castles. Hidden from view are views of Tokyo from the family lounge, where residents can recline on Poltrona Frau furniture, some of which is crafted from the firm’s renowned buttery-soft Pelle Frau leather.
Sydney: Charming Australia
Sydney aura.
Australia’s housing market has been under scrutiny in recent years due to persistent demand, a lack of new housing projects and high immigration rates. Knight Frank’s Wealth Report named Sydney the frontrunner in this year’s rental forecast. Sydney’s vacancy rate is well below the national average, which is good news for investors. This makes projects like Aqualand’s Aura all the more attractive.
Located in North Sydney, just a stone’s throw from the harbour, Aura already stands out for being part of a mixed-use precinct that’s expected to inject new vitality into the area. Curvaceous architecture by renowned firm Woods Bagot underpins 371 luxury residences, ranging from one to four bedroom configurations. For those looking to settle down, there are two penthouses still available, which are inspired by the top floor apartments of classic Parisian buildings, with equal parts volume and elegance.
Bangkok: Relax in nature
Aspen Tree Bangkok is a luxury hotel worth considering, located in one of the world’s most vibrant cities.
Best known as a holiday destination, Thailand is also increasingly holding its own in terms of real estate investment. The country’s capital ranks third among the cities with the highest residential sector price growth in 2023, according to Savills Research, which also notes that demand is outstripping supply. This is unsurprising given the many factors working in Bangkok’s favour, including a wide range of culinary and lifestyle options, a renowned wellness and private healthcare industry, and excellent air connections, including to Singapore, just two and a half hours away.
Foreigners are allowed to own condominium units, and MQDC’s The Aspen Tree is a notable example. Targeted at those looking for an active retirement lifestyle, the property is part of The Forestias, a 64-hectare lifestyle development with more than half of the land devoted to landscaping. At The Aspen Tree, residents can choose from 290 units designed in collaboration with Baycrest Centre, a leading Canadian-based aged care provider. The development features homes for multi-generational families.
This article was first published on Prestige Malaysia.
The information in this article is accurate as of the publication date.
