Research by Astons, the international experts on real estate, residency and citizenship through investment, has revealed which prime global real estate markets are on course to see the biggest increase in values in 2021.
Astons analysed prime real estate values across 18 global destinations in 2020 as well as looking at the forecast growth for 2021 and what this would mean for the world’s wealthy buyers looking to these cities.
Based on a property sized at 43 square metres, global prime real estate values are expected to climb 1.8% in 2021 when compared to 2020, putting the average real estate value across these 18 destinations at £717,429.
However, three global prime markets are expected to see value of the average prime property remain above £1m. Monaco is forecast to see an average real estate value of £1.m in 2021, with Hong Kong (£1.3m) and London (£1m) also sitting considerably higher than the average.
Geneva (£905,550), New York (£891,505), Singapore (£880,395), Paris (£747,595), Los Angeles (£727,387) and Sydney (£725,037) are also forecast to see real estate values remain higher than the global average in 2021.
Along with Berlin, Sydney is also expected to see the highest rate of growth where real estate values are concerned, with an expected 5% uplift forecast for 2021 when compared to the average across 2020.
At 4.5%, Miami is also expected to one of the largest uplifts in prime real estate values, as is Shanghai (4%) and London (3.5%).
Managing Director of Astons, Arthur Sarkisian, commented:
“The global prime market has, of course, been impacted by ongoing travel restrictions preventing many international buyers from transacting as they may have otherwise.
As a result, annual appreciation in real estate values is forecast to climb slightly across many cities, although some are expected to see a stronger performance than others.
However, the very top end of any global property market performance is based very much around quality over quantity and so as the world does start to reopen, months of pandemic restrictions are sure to yield to increased demand as many look to regain lost time.”
| Table shows prime property prices across each global city in 2020 and the forecast growth in 2021 | |||
| City | Average prime real estate value – 2020 | Average prime real estate value – Forecast 2021 | Potential forecast annual growth |
| Sydney | £690,676 | £725,037 | 5.0% |
| Berlin | £444,006 | £466,095 | 5.0% |
| Miami | £365,652 | £382,015 | 4.5% |
| Shanghai | £621,608 | £646,317 | 4.0% |
| London | £1,002,594 | £1,037,434 | 3.5% |
| Monaco | £2,072,027 | £2,134,187 | 3.0% |
| Cape Town | £153,863 | £158,441 | 3.0% |
| Los Angeles | £706,373 | £727,387 | 3.0% |
| Mumbai | £293,211 | £300,468 | 2.5% |
| Geneva | £888,011 | £905,550 | 2.0% |
| Singapore | £863,344 | £880,395 | 2.0% |
| Paris | £740,010 | £747,595 | 1.0% |
| Melbourne | £357,246 | £360,818 | 1.0% |
| Tokyo | £535,869 | £540,960 | 1.0% |
| Beijing | £501,297 | £506,059 | 1.0% |
| Dubai | £188,366 | £185,588 | -1.5% |
| Hong Kong | £1,351,322 | £1,317,877 | -2.5% |
| New York | £914,129 | £891,505 | -2.5% |
| Average | £704,978 | £717,429 | 1.8% |
| Prime property values based on the average size property of 43 sq m (Source: Astons) | |||
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