Global real estate hotspots

Forbes has an item about the top ten global hotspots for real estate investment and there’s one pacific rim jewel that is missing.

The biggest fallers seem set to be Geneva, Zurich, Washington and San Francisco, while Vancouver falls out of our future top 20 entirely. The three biggest winners point to a rebalancing within Brazil, Russia, India and China, with the main cities to watch being Mumbai, Moscow and São Paulo. They look set for a dramatic upswing in their status, with each expected to climb by between six and eight places over the next decade.”

New York and London remain the No. 1 spots to invest in global real estate, but honestly, who can afford it? Soon, we may be asking the same thing about São Paulo.

Wait. Vancouver falls out of our future top 20 entirely? Why?!?

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patriotz
Member

If Forbes or any other financial publication ran an article about the top 10 stocks to invest in without looking at prices and earnings they would be laughed at.

Neither the Forbes article nor the Knight Frank article it links to makes any mention of prices in relation to current or anticipated future rents. Just hype about "rich people" buying, i.e greater fools. As if we haven't heard that before.

Content-free nonsense.

Keeping An Eye On Th
Guest
Keeping An Eye On Th

"The three biggest winners point to a rebalancing within Brazil, Russia, India and China, with the main cities to watch being Mumbai, Moscow and São Paulo."

Good riddance

"Vancouver falls out of our future top 20 entirely"

Why?

While it's true you could theoretically go skiing in the morning and golfing in the afternoon, it's probably difficult to purchase a sex slave and get a kidney transplant the same day, and from the same immigration lawyer.

But still the best place on earth should have made it on the list, we will have to get John Furlong, Bill Slut and Michael Levi on this right away.

Keeping An Eye On Th
Guest
Keeping An Eye On Th

Good Riddance.

While it's true in Vancouver, you could theoretically, go skiing in the morning and golfing in the afternoon, it's probably difficult to purchase a sex slave and get a kidney transplant the same day, and from the same immigration lawyer.

Anonymous
Guest
Anonymous

The final stages of the insanity are upon us:

A West Van house goes for $655,000 over asking price.

http://www.theglobeandmail.com/life/home-and-gard

chip
Guest
chip

The world according to Garth:

The Richmond market, ground zero for China frenzy, has died.

Listings have exploded. The number has more than doubled since the beginning of March (going from 400 to 850).

Sales have collapsed. In February, 250 properties sold. In March, sales were 260. In April, it looks like 120 – down 52%.

Inventory is swelling. In February there were enough homes listed to last 1.5 months. That has suddenly shot up to 7 months.

http://www.greaterfool.ca/2011/04/24/its-over/

asalvari1
Guest
asalvari1

@chip:

I think that garth is cherry-picking the data a bit. Word in the street is that after Japan disaster, buyers are staying away from Richmond, spilling over the action to vancouver and burnaby. He (garth) does not support his numbers with the other regions numbers, but says that they are stronger then Richmond.

Either way, tough luck Richmond.

jesse
Member

@patriotz: " Just hype about “rich people” buying"

Agreed, these types of articles are put alongside the best back 9, best luxurious import cars, best fine wine deals, and best romantic dinner for under $3000 articles for the world's elite.

The fact that Vancouver was chucked off the list sounds like sour grapes to me… 😛

registered
Member
registered

@ 7 jesse – From the article:

"According to the Knight Frank Citi global real estate survey…

From the Knight Frank home page:

"Welcome to Knight Frank’s global property network

We provide high quality residential property and commercial property services in 43 countries across the globe…..we are the world's largest privately owned global real estate agency and consultancy. "

A real estate 'agency/consultancy' opines on where you should spend money with them next and that's news? Pass.

jesse
Member

@fixie guy: "opines on where you should spend money with them next and that’s news?"

What's news is why they specifically and explicitly threw Vancouver under the bus. What changed? Did Sir Frank actually visit Vancouver to see what all the hype was about, only to discover it's a whole lot of nothing? Or maybe, as you point out, it's difficult for guys like them to make money when the inmates are running the asylum.

Anonymous
Guest
Anonymous

@Anonymous: ….The final stages of the insanity are upon us:

A West Van house goes for $655,000 over asking price.

http://www.theglobeandmail.com…..le1995007/
……

My God! The Chinese bought Kitsilano and moved it to West Vancouver? The Realturds doen't even know what city they're selling in.

bubbly
Member
bubbly

@Anonymous:

My God! The Chinese bought Kitsilano and moved it to West Vancouver? The Realturds doen’t even know what city they’re selling in.

Haha, maybe that's why I see so many Chinese in West Vancouver recently. They are confused by articles like this and are looking for Kitsilano in the wrong place.

Runawayscreaming
Guest
Runawayscreaming

Re: That beautiful mansion on West 14th that sold for $2.55 million.

It's no wonder it was snapped up for $655,000 over asking. It's on a 50 x 125 foot lot and it was "custom built for the property". Where else could you get a deal like that?

EatMe
Guest
EatMe

Are these huge over asking new articles simply about strategically low priced listings? Seems to work well!

Wiser than Garth
Guest
Wiser than Garth

@asalvari1:

"Either way, tough luck Richmond"

The curse was placed some time ago the slide was to begin on the 4th day of the 4th month of this year.

And the 4444 curse was to last for 44 years!

Anybody who is mortgaged to the max should have been told that they will not be able to claim bankruptcy on the mortgage.

Tough luck Richmond, the one solace for The Extremely unfortunate homeowners, is that they will be in company of many others who will be chained to mortgages, in many cases 3 times what the home is worth.

It’s always the young and foolish who pay the price.

sluggo
Guest
sluggo

And here I thought it was just me who was irritated by Gregor's bike lanes

http://youtube.com/watch?v=0C7AYsfb_dM

Extremely rich Van h
Guest
Extremely rich Van h

@Runawayscreaming:

It well demonstrate the invicible Mainland Chinese purchasingpower which had been denied by bears few yrs.Now,2011 bears'eyes popped out and shrieked in terror finally admitting its existence;they are pounding their chest in agony and demand change of rule.Well,you guys have to bear in mind that Chinese money is the only economic activity in this backwater city.If Chinese money withrew all of a sudden,there would be mass lay-off.China is a unstopable rolling train and anyone rational and insight should align both nations'interest as an inseparable part.Canada needs China's military mind to safeguard its indepence which is being threaten by US.Vancouver is the best location for Chinese naval base.

Extremely rich Van h
Guest

He is the one who benefitted from Chinese surge and you could be him if you align with PRC which will be largest world eonomy and number one military power in this decade.

Extremely rich Van h
Guest
General Penis
Guest
General Penis

@Extremely rich Van house owner.:
But perhaps, it would be a good gesture if China turns Vancouver over to US, as England returned Hong Kong to China.

Frank Reader
Guest
Frank Reader

@Extremely rich Van house owner.:

You must be one of those pooners who frequents Vancouver's cheap Asian-whore-houses and massage parlours to get dominated hence all that obsessions with Chinese and their power. Sigmund Freud managed to explain those kind of disorders a long time ago. You should rather look for some help and psychotherapy than waste your time on meaningless postings.

Eddie
Guest
Eddie

$800K in Richmond

http://tinyurl.com/4x7ghty

$800K in Tampa, Florida. (better weather, great hockey team with $35 playoff tickets)

http://tinyurl.com/3l56mls

lol cats
Guest
lol cats

@Frank Reader:

really…freud.

freud had sexual feelings for his mother.

and you sir, wish you could visit cheap Asian-whore-houses and massage parlours.

Extremely rich Van h
Guest
@Frank Reader: Hay man I have two houses fully paid off,and are renting to prudent and honest Asians only,one Japanese student home stay for 750,one Chinese couple for 1200, and 3 Condo,though only one of them is paid off,but I expect they will be double in two yrs when they are finnished in 2013.Therefore, I can well afford to visit Crazy Horse in US. What about u man,since I presume you are House and Condo non loser,you can only patronage those cheap ones along Hasting for quick and cheap shot (10 for a blow and 30 for a whole set).If you were a bull and have learned something from Chinese,u won't end up like a beggar.Pls save enough and hop in now or you couldn't even afford any chick at Balmoral Hotel. Don't forget pay your rent on time.Learn Mandarine… Read more »
kansai92
Guest
kansai92

We are now at the dawn of what could possibly be the biggest collapse in history.

And no, I'm NOT talking about the Vancouver Canucks!

Extremely rich Van h
Guest

Congradulation China!!!

CNN announces China will take over the crown as the number one economy 2016,whence, even Chinese wage earners can afford houses in Vancouver.They will immgrate to this lovely city in mass.Even RE collapse cosmo-wide,it won't sratch Vancouver one bit because Chinese is the main buying force in this city.Chinese tourists will pour trillion of pocket in this tiny city.Hop in now bear and repent your foolish denial.

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