City riches Guaranteed good investments for property collectors

City RICHES

Plant your currency in key world conurbations for handsome returns

Words: Cheryl Markosky

Economist John Stuart Mill reckoned that “landlords grow rich in their sleep”. Investing in property is a sound way to become wealthy, but where should you capitalise your funds?

Paul Tostevin from Savills Global Research Team believes Paris is back on the radar, with values rising 6% this year now that Macron’s on the scene.

“Milan’s also one to watch,” he says. “Transactions are up, with new prime development emerging in the business district and recent tax incentives introduced by the Italian government for high net worth individuals.” Other strong candidates, according to Savills, are New York, Los Angeles, San Francisco and Toronto.

John Taylor’s Oliver Blum tips Berlin, where many young tech companies are burgeoning, because this vibrant German metropolis is cheaper than Switzerland or Sweden. He says you need to determine which district feels

right for you, from arty Kreuzberg – with its “cool, old refurbished buildings” – to upscale Charlottenburg, or stylish Mitte, known as Berlin’s beating heart.

If Charlie Smith of Prime New Developments had disposable cash he’d run to an established European city – in particular, Rome, where you can pick up a property for about a quarter of values demanded in Tuscany. “It’s steeped in culture, has good air access and is down about 50% on pre-crash prices.” A braver person could venture out further to Athens, he suggests, as “Greece will come back one day soon”.

Don’t forget London, argues Lisa Ronson of Ronson Capital Partners, who’s selling apartments from £2m at Riverwalk – a sleek building with lines following the curves of the Thames. “It’s a world capital, has solid British laws and its time zone fits conveniently between Asia and America.” Here’s our pick of the best around the world. »

Incredible views are just one of the appeals of London’s Riverwalk

The Ritz Carlton Residences Singapore

Pleasing ‘culture collision’ in three- and four-bedroom apartments with Poggenpohl kitchens, Sub-Zero fridges and a dash of Asian panache. Keep fit in the aqua gym and indoor lap pool, or laze in the maze garden. Prices from £6m.

primenewdevelopments.com

Riverwalk, London

Elegant, waterfront penthouses with five bedrooms and south-facing terrace on the north bank of the Thames, next to London’s Tate Britain and the high-end neighbourhood of Belgravia. Applauded for its curvaceous architecture by award-winning Stanton Williams, the building is tended by Harrod Estates’ concierges, who will look after deliveries and book theatre tickets. Valet parking is also provided. Price: £25. »

knightfrank.co.uk

Mitte, Berlin

Furnished 10,000-square foot penthouse with direct access to the Tiergarten, and a 10-minute walk to the Brandenburg Gate, Neue Nationalgalerie and Potsdamer Platz. Perks include concierge service and security, sauna, spa, gym and rooftop pool in this six-bedroom bolthole in Berlin’s diplomatic quarter. From €25m (£22.2m).

john-taylor.com

Isle Saint-Louis, Paris

A truly ‘magnifique’, three-bedroom luxury apartment with separate kitchen and dining room, and views of the Seine in a building on the Left Bank romantically once inhabited by French artists. Priced at €5.2m (£4.6m). Parking space available for an extra €150,000 (£133,000).

savills.com

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