On the rise: Global cities are shaping current and future trends in real estate investment
Recent years have seen a renaissance in global mega-cities. Among these cities, one would find the major financial hubs and commercial centres of the world, including Hong Kong, London, New York City, Paris, Singapore, Sydney and Tokyo. These are the cities to which major airlines consider it essential to offer flights and where Fortune 500 companies will have an office and international hotel groups invariably have a five-star property. For the past decade, wealthy foreigners have snapped up residences and office space in these world cities. And the emergence of these global cities is creating new future trends in real estate markets for investors.
Attracting talent and professionals
With an expected 1.1 billion new city dwellers in the world during the next 15 years, global cities are becoming the driving force behind their host economies in attracting capital and talent. This gravitational pull will change the face of office markets in these cities, mak