Investors around the world are now looking for diverse ways expand their portfolio. As the global market becomes volatile, investing in real estate must be done carefully. If you are an investor, here are five rapidly growing international cities worth investing in.
1. Sydney, Australia
Sydney is not the capital of Australia, but it’s the largest city in the country, and it has wonderful weather year-round. Australia as a whole ranks 6th in the world with regards to the Legatum Prosperity Index, which is based upon a variety of factors.
Sydney is a thriving city with financial and economic growth, and it contends with some of the world’s most expensive real estate prices. For the past 30 years, housing prices have been rising 7.25 percent a year, making housing a prime investment. Australia had $243 billion in exports in 2014, many of which went out of Sydney. If you are not familiar with this market, there are plenty of companies that will provide free investment property advice.
2. Panama City, Panama
Panama City is the capital of Panama and is known for its legendary megastructure, the Panama Canal. Panama is also well known for its friendly banking regulations, which bring in business clients from around the world. The city itself has close to 900,000 residents and has a tropical climate.
The local economy thrives on the business brought in from banking customers and on the fact that the city lies right on the ocean, which strengthens both imports and exports.
3. Jakarta, Indonesia
Jakarta is the capital of Indonesia and is the largest and most populous city the country. Indonesia is known for its tropical climate, which brings travelers from around the world to vacation here. A large portion of Indonesian business comes from tourism. Indonesia is an archipelago made up of 18,000 islands.
Aside from the tourism, Jakarta has an abundance of mineral wealth including everything from copper and gold to steel and oil. This drives the country’s strong export economy. Financial transactions and lending have traditionally been difficult here due to problems with infrastructure, so investors have been pouring their money into startups which promise to solve these issues while delivering solid returns.
4. Chicago, IL, USA
Chicago, IL is the third-largest city in the US, according to statistics. Chicago is known as the “Windy City” of the Midwest and lies along the shores of Lake Michigan, which is one of the Great Lakes of North America. Chicago has always been a United States financial hub, second only to New York City.
Everything from stock options to commodities goes through the financial portal at the Chicago Mercantile Exchange (CME) and the Chicago Board of Options Exchange (CBOE). Besides its financial role, Chicago is known for its commercial real estate empires and for the imports and exports that come from the Great Lakes. Recently, tech firms and startups have been coming to Chicago, inspiring bright hopes about the city’s future.
5. Cebu City, Philippines
Cebu City is known as the Queen City of Southeast Asia. It’s the second most populous city in the country, just after Manila. The climate is tropical and is less prone to natural calamities. Moreover, the city is strategically located, as it is in the center of the Philippines. This makes it a trading hub for the country and for exports as well.
Under the Philippines’ new president, Rodrigo Duterte, who will hold office until 2022, there has been an economic shift in the country. New economic partners in China are pouring investments into many parts of the country.
The Philippines has long done business with China and with its other neighbors in Southeast Asia. This has provided a steady flow of minerals, oil, and agricultural products. Cebu City continues to grow rapidly, and the inflow of business, tech, trade, and real estate construction projects make this city popular with investors.
There are many cities around the world in which you could invest your money. However, there are only a handful that continue to thrive. We hope that you look hard at the cities listed here and make sound decisions involving any investment you make.
Which city would you invest in, and what would drive you to go there?