Commercial Real Estate Investment
Buying real estate in four of the world’s booming cities
If you’re looking to invest in real estate, it can be very profitable to identify the world’s growing cities. As the population or prosperity of a city grows, so does its property prices. For example; if you’d purchased a studio apartment in Hong Kong 5 years ago; it would know be worth up to 200% more (although the government is making attempts to reduce property prices in Hong Kong). If you’d purchased a house in some emerging cities in Australia at the turn of the millennium, you could have saw your investment rise up to 300%. These figures are with inflation taken into account.¬†
So what are the world’s growing cities? Here,we’ll take a look at 4 of them.¬†
1) Houston, Texas.¬†
Houston is currently experiencing a major technology boom. Many firms previously based in Silicon Valley are moving to Houston, and with them they are bringing tens of thousands of young, affluent super-geeks searching for a place to live.¬†
Not only is the local economy booming, but house prices are as well. Buying a home or commercial property in Houston is a great idea; because rents are high compared to property prices. You can still pick up a bargain, especially further away from the city centre. On which you can charge rent that could mean it will pay back the investment within 10 years.¬†
2) Belem, Brazil.
Located in the north-eastern part of Brazil, near the mouth of the Amazon River, the city of over 2.3 million people is one of the largest in the region. It was also a victim of poverty for many years during the last century. But has historically been more prosperous than other parts of Brazil since it was established.¬†
The city is becoming even more prosperous all the time, as is the rest of Brazil. Buying a home in the area now is very cheap compared to first-world standards you can buy an apartment for $70,000-90,000 USD – yet this may very well be a first-world city in the not too distant future.¬†
3) Bogota, Columbia.
It’s been a long time since Bogota was a no-go area for tourists (and honest policeman). Once a city that housed the worst of the Colombian drug cartels, Bogota has been cleaning up.¬†
Many people who fled the city at the height of kidnappings and narco-terrorism are returning. And it deserves it’s place among the world’s growing cities.¬†
One can purchase a studio apartment for less than $100,000. It could be worth double that in a decade if Bogota continues to grow at it’s present rate.¬†
4) Beirut, Lebanon.¬†
Who would have thought that anyone would ever be advised to think about buying real estate in Beirut. Once the name of the city was synonymous with violence and bloodshed. During the Lebanese Civil War, the city was a no-man’s land. And it came under fire again in the Labanese-Isreali conflict if the mid-2000s.
But it’s a city that attracts a lot of tourists annually. And luxury apartments can be snapped up for a bargain price. As with Bogota, its future prosperity very much depends on it steering clear of violence; which means there’s always some risk. But it’s a much more modern, westernized city than many people realize.¬†
You can find a decent studio for under $70,000 USD. Renting it out to tourists could see a return on that within 5 years.
These are just four growing cities. There are almost too many to mention; as much of the world is changing rapidly. Places that were once small and poverty stricken are starting to come to life, to be the modern metropolises of the future. There are homes in London and New York that are worth millions today, which would have been very inexpensive at the time they were built. With some research you can find these cheap studio apartments, that will be worth a fortune in the future. Identifying a booming city may set you up financially for life.
Life in Bogota is very expensive, if your living standards are of middle-class. Supermarkets cost you 100% more, healthcare system is private and terribly expensive, so I am not sure if it worth buying property there