Overseas property investors are always looking for the best returns for their money, and as properties rise in value in the most attractive cities for investors, values are standing still or falling elsewhere.
So where are the places to get the best returns for your money, and where should be avoided?
Worldwide property investment company Knight Frank have studied 100 of the main cities around the world in order to compile their list of the top cities for the best returns on property investment during 2017, and indeed the worst.
Top of the tree came the Chinese city of Guangzhou. Property values in the city rose by a massive 27.4 per cent during 2017. This compares to the worldwide average of just 2.1 per cent.
The nearest competitor was Cape Town in South Africa, which just missed out on the 20 per cent plus mark at 19.9 per cent growth.
The last podium place went to the famous skiing city of Aspen in the USA, recording property value growth of 19 per cent over the year.
The rest of the top ten cities for the best property investment returns were spread around the world – with European cities taking four places, and South Korea, the USA and Australia the rest.
Whilst great returns were achieved in many cities, there were many others best avoided.
Bottom of the pile came Lagos in Nigeria, where property values dropped by an average 25 per cent over the year.
The middle Eastern city of Doha in Qatar was the next worst for investment, with property values falling by 15 per cent.
Another poor place to invest over 2017 was the capital of Russia. Property prices in Moscow fell by 11.3 per cent last year.
A popular saying in the property investment world is ‘location, location, location’. It seems that certainly rang true for overseas property investors during 2017.
Property price rises: Top 20 global cities
|2||Cape Town||South Africa||19.9%|
Source: Knight Frank
Property price rises: Bottom 20 global cities
|85||Dubai||United Arab Emirates||3.3%|
|91||British Virgin Islands||-6.0%|
|94||Rio de Janeiro||Brazil||-8.8%|
|95||Abu Dhabi||United Arab Emirates||-10.0%|