5 best cities to own a second home in 2019
Owning a second home abroad has never been easier as estate holding laws see a more cooperative morning all over the globe. Whether you’re looking to own a second home for occasional getaways, regular business trips or are setting up a new base for a relaxing retirement, investing in the right residential real estate property is of paramount importance. Understanding what a country or city has to offer is the first step towards realising the potential of second home ownership overseas.
We list down the 5 best cities across the globe to consider investing in a second home in 2019:
1.New York, USA: The big apple has long been a highly desired location to live in. New York offers the world, quite literally, with different cultures coming together to offer a vibrant city that never sleeps. New York has something to offer for all who wish to call it their home. Leisurely walks at Central Park, matinee shows on Broadway, museum tours, world-class restaurants and a buzzing nightlife, the city is bound to keep you engaged. The New York real estate marketโs lower interest rates, high appreciation market and accessible financing options make it a dream for foreign investors.
2. London, United Kingdom: Buckingham Palace, Big Ben, London Eye, Piccadilly Circus, St. Paul’s Cathedral and The Shard are just a ย few of London’s crowned jewels. The historical city of London has recently become an opportunistic location for an investor with Brexit turning the real estate business becoming a buyer’s market. Residential properties in London have become more accessible as the British government has recently laid out different beneficial investment properties for foreign buyers. If you desire a balanced life overseas, the quiet bustle of London is the perfect fit for you.
3. Dubai, United Arab Emirates: Dubai is a land encompassed in luxury and extravagance. With beautiful long stretches of palms and beaches, this emirate is a tropical haven fit to be called a second home. Dubai is an extremely popular destination with both professionals and travelers alike, especially considering its central location which ensures hassle-free connectivity with the rest of the world. Brightly-lit, Dubai fills the days of its residents with luxury brands, fine dining and bars, and countless outdoor activities. UAE recently altered the law to owning properties and now allows a foreign investor to have full ownership of their estate. Along with improving property laws, the UAE also has made it simpler for foreign investors to acquire residential visas.
4. Madrid, Spain: Madrid finds the perfect balance between embracing leisurely spent afternoons with an active nightlife. Tapas, flamenco dancers and Spanish wine make for perfect evenings to unwind. However, Madrid is not all laze filled days in the sun, football, food and art are a major part of Spain. The tropical temperature is another attractive element that attracts residents to Madrid. In recent years, Madrid has been one of the major cities in Europe to have seen a growth in the real estate market, still maintaining attractive property prices. Following the investment guidelines, Spain also grants investors the chance to live and work anywhere in the EU.
5. Singapore, Singapore: Known as the hub of Asia, Singapore is a favourite for many foreigners, especially Indians. The well-developed land houses many world-class universities and is revered for a government dedicated to seeing the country flourish. With various forms of entertainment for the entire family, you’d be fortunate to call Singapore your second home. The climate, large expat population and the booming tourism industry of Singapore permits its residents to live a fulfilling life. The real estate market of Singapore is considered a safe bet for investors with its liquid market, low taxation and high rental returns.
Are you interested in owning a home but not sure where to buy? Krypton Global Investments offers expert advice and services for Investments. Get in touch with us at [email protected] to determine the best property for your investment.
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