Despite the global economic instability and the return of inflation, luxury real estate has once again proved itself as the ultimate safe haven investment against uncertainty. The BARNES Global Property Handbook, published once a year, gives an insight on the global real estate markets and the most sought-after destinations. This year, for the first time, a Middle Eastern city is top of the Top 5 of the BARNES City Index, and not just any city, Dubai. Following the Emirates capital are Miami, New York, Madrid and finally Paris.
« Driven by a real business spirit, upmarket buyers are now exhibiting an attitude for diversification, not only in the type of properties that interest them […] but also in their location. From New York to Paris and Lisbon, from Miami to Dubai and Saint Tropez, and from the Atlantic Coast to winter sport resorts », comments Thibault de Saint Vincent, President of BARNES.
In that matter, secondary residences are on a roll. Regarding oceanfront destinations, the most coveted destinations are : Saint Barts for its idyllic landscapes and delicious gastronomy, The Hamptons for their peace and quietness, The French Côte d’Azur for its architecture and elegance, South Corsica for its natural and cultural heritage and, finally, Mauritius for its tropical climate and unmatched wildlife.
Furthermore, luxury real estate is in constant evolution and some up-and-coming destinations could become tomorrow’s investments and homes. The British capital London takes the first place thanks to its growing number of Ultra High Net-Worth Individuals. On the second place, we observe Rome, also called the “Eternal City” that keeps attracting for its Dolce Vita. Milan, characterized by a quest for classic elegance but also its gastronomy, stands right behind Rome. Istanbul, in the fourth place, is a destination of exceptional beauty and exponential development. Finally, Barcelona is becoming a safe haven for both Europeans and internationals.
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