Luxebook November 2022

city in the world for real estate investment, according to the Knight Frank’s London Report. It did however take a turn in 2021 after Brexit, with the city slipping to number 4 rank, which continues till date. Although Brexit had a significant effect on the property market in London, London continues to maintain a relatively steady market, according to Halo Financial, a U.K.-based foreign exchange service. While several economies across the world suffered losses during the Covid pandemic, London maintained its economy, thanks to an influx of international investors and workers, which helped London maintain its spot among the most important financial centres in the world. London is a vibrant metropolis with some of the best hotels, office spaces, and restaurants, not to mention vibrant options for entertainment, art and culture adding to the traditional appeal of the city. This has led to London drawing in people from all across the world, making it one of the cities with the largest number of billionaires in the world, and a safe investment paradise for the world’s richest. Los Angeles It comes as no surprise that Los Angeles is regarded as the top destination for foreign investors in the US real estate market. The US by itself is a green flag for internationals in terms of career opportunities. While New York was for the longest time ranked as one of the best destinations to live in the world, it is no longer the only one. According to a survey conducted earlier this year by the Association of Foreign Investors in Real Estate, Los Angeles was voted one of the most desired destinations to live in. According to a report shared London Surkh Lal by Anjul Bhandai by Jones Lang LaSalle (JLL), international real estate investors bought over US $23 billion of value in LA real estate in 2017, while global real estate investors had a combined total of US $1.7 trillion. Los Angeles has the best return on investment compared to any other city in the world. This is because of the sky rocketing prices of properties in LA. The Los Angeles real estate market forecast shows the property value growth going from a median home value of us $413,000 in August 2012 to a daunting US $1 million a decade later. And so, people in the city prefer to rent out apartments rather than buy a property. This gives homeowners an opportunity to rent out apartments or be a part of online marketplaces like Airbnb that caters to tourists or others looking for short term accommodation. Finally, it is the picture-perfect neighbourhood that makes LA such a spirited city to live in.While most people think of Los Angeles as a superficial metropolitan area, it is much more than that. Sure, it has some of dizzying concentrations like the mellow brownstones, the soaring skyscrapers, not to mention some of the world’s best restaurants, galleries, museums and bars. But it also has some of the most soothing environments, pictureperfect beaches, parks and plenty of natural scapes that make you forget about the concrete jungle you’re in. Dubai The citywhere more is more,Dubai has become the “postpandemic investment destination” for citizens across the globe. In addition to being the quickest way to get a residency permit in UAE, Dubai tax-free lifestyle is what appeals to international citizens the most. Upon buying property in Dubai, owners need not worry about tax, as the Emirates has no annual property t x, income t x or 20|L U X E B O O K|N O V E MB E R 2 0 2 2 N O V E MB E R 2 0 2 2 |L U X E B O O K| 21

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