Property has become a popular investment commodity globally. Once it was just deemed to provide a roof over our heads, today it has become an asset being used to invest. Markets across the world reflect their location which is illustrated in CBRE’s annual Global Living Report.
Gathering data from different cities, CBRE has been able to rank each according to their average property prices. For Bangkok, where the average property costs THB 3.4 million, the property is much more affordable than other regional powerhouses such as Hong Kong and Singapore. Here prices average THB 39.52 million and THB 27.92 million respectively.
Interestingly along with Shanghai, these Asian hubs occupy the top three positions of this chart proving the worth of real estate in this corner of the globe. Plus, all have introduced cooling measures in a bid to slow down their individual markets from gathering even further momentum.
This is the fifth report of its kind and the real estate firm have included more cities this year which includes Bangkok demonstrating the direction and the perception of Thailand’s capital city. The state of the property market is also a reflection of local economic factors such as advances in transport infrastructure, and connectivity.
- read more about Property Market Index report or Property Market Outlook before making the decision.
Jennet Siebrits, Head of Residential Research at CBRE UK, comments, “In the fifth edition of the ‘Global Living’ report, we have expanded the number of cities we examine from 29 to 35. They include the most exciting cities in the world, from emerging technology-driven powerhouses like Shenzhen and Bangkok through more traditional capital cities such as Rome and Lisbon, to rapidly evolving modern urban centres like Dubai and Johannesburg.”
Elsewhere, Europe has seen the most amount of growth with Barcelona in Spain topping the charts with the highest over the last year increased by nearly 17 percent. The other European cities that occupied the top ten best-performing markets include Madrid, Dublin and Lisbon where a lack of supply is driving prices. A similar story is occurring in Canada where strong employment is helping spur the property market.
Receive the latest property news on email from Thailand’s No.1 property website here, or read more project reviews
