In the realm of real estate investment, one of the most important factors for investing in a property is the location of that property. If you’re thinking about expanding your investment portfolio by plunging into the world of luxury real estate, it’s imperative to consider the various cities and countries for luxury housing.
The best cities for luxury real estate investment
As already mentioned, a good real estate investment is heavily dependent upon the property location. Purchasing a luxurious home or apartment in a city that doesn’t have a high standard of living won’t be fruitful for you financially. So, consider the following luxurious cities for investing in luxurious real-estate:
The moment you think of the term luxury living, LA tops the list! The home of Hollywood- this is why LA is an ultra-luxurious city to live in. Therefore, you will be spoilt for choice when it comes to investing in luxury housing. Although the LA real estate market is quite competitive, it is worth your patience and effort because of the high appreciation value of the real estate in LA.
London is not only the largest European city but has also been featured in innumerable lists of top-ranking cities around the world. It’s a financial powerhouse. It boasts an Alpha + + status. Not only rich in history but also quintessentially modern, London offers some of the most luxurious real estate properties worth investing in. According to Statista, the average price (per square foot) of prime properties in Mayfair, London, is €4469.
There is a big reason why Vancouver is one of the most luxurious cities in the world. The quality of life in Vancouver is top-rated. Vancouver has been featured in several lists as an expensive city. It is probably the most culturally diverse city in Canada. Owing to vast natural areas, its cultural diversity, and cleanliness, Vancouver has a fiercely competitive real estate market.
Extremely popular for its skyscrapers and booming economy, if you wish to purchase luxury real estate in a modern city, Hong Kong is your go-to. Hong Kong’s impressive cultural diversity and urban environment are some of the main reasons why you can find some of the best luxury real estates here.
Another city that boasts an Alpha++ status is the densely populated city of New York. It is undeniably one of the most recognizable cities in the world. New York is also one of the most visited locations globally. Owing to the Alpha++ status of New York, it has a significant impact on the global economy. Therefore, New York is fantastic for investing in luxury real estate.
Tips for purchasing luxury real estate
Now that you’re well-acquainted with the best cities for purchasing luxury real estate, let’s address the next question: How to find the most luxurious mansions to live in? Here are some of the features that you should be on the lookout for when purchasing luxury real estate:
- Top-notch security systems in the home and on the property
- Luxurious amenities like home gyms, pool, hot tub, home office space, etc.
- Sustainable features and materials (e.g.: geothermal heating systems, solar panels, electric vehicle charging stations, etc).
If you’re wondering how investing in real estate can benefit your finances, luxury real estate investments can do wonders for you financially. Irrespective of whether you’re purchasing property for living in it or for a buy-to-let business, luxury real estate is definitely worth looking into.