Dubai and edinburgh named global investment hotspots

Photo credit: Chusico

The IP Global Property Barometer for the third quarter of 2013 ranked the emirate among its up and coming investment hotspots thanks growing economic confidence and yields of up to 6 per cent.

The Scottish capital, also making its debut on IP Global’s report, is also enjoying its own recovery: hot on the heels of London’s property market boom, sales of Edinburgh property have surged 50 per cent.

Elsewhere on the list, Manhattan’s housing inventory has plunged 31 per cent, reports Property Wire, driving up prices to the point where house hunters are having to look at satellite towns where homes are more affordable.

Munich is also highlighted as an investment opportunity thanks to low prices: the value per square metre in the city is “significantly below” other major European cities, offering an affordable entry point for investors with an eye to securing stronger returns. Indeed, Germany topped the IP Global charts in the company’s report for the first quarter.

Other US markets recommended by IP Global include Boston, Chicago and Seattle. Australian cities Melbourne, Sydney and Brisbane also make the cut, alongside Tokyo, which has made its second appearance in the list this year.

“We are pleased to see Dubai benefitting from rising economic confidence across the Middle East North Africa region,” said Paul Preston, director and head of IP Global Middle East. “Prices have risen an impressive 11.9% in 2013 to date, with potential for more growth in a market that remains 30% below the peak levels of 2008. The ever increasing inflow of expat workers in the city from all over the world is a key factor in driving consistent rental rise.”