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Real estate is still a mark of social status. For wealthy people all over the world buying a property abroad often satisfies a double objective. First shelter some of their money offshore and second live in prestigious buildings located in the most beautiful cities. No doubt that owning a luxury property remains the leading symbol of wealth. According to Barnes the 6 more desirable cities in the world are listed in the following order: London and then New-York, Hong-Kong, Miami, Singapour and finally Paris. In one word only great classics. However a key part of this ranking with regard to the prices is constantly evolving. As an example, there was a time, not long ago, when the London housing market was only 20 per cent more expensive than that of Paris. Today it is 150 per cent ! And prices for luxury properties will inevitably shoot up. The proof is in the following figures: at the end of 2013 there were about 12.5 million HNWI (High Net Worth Individuals) in the world, 46 per cent more than in 2008! WealthInsight expects a 22.6 per cent increase in the number of millionaires in Indonesia. This report also emphasises that with 1.38 millionaires China would be at the end of this year on a par with Germany; and India should at the end of 2014 outstrip Italy. That is why property prices will continue to rise across the world, at least with regard to the so-called " Dream Cities ".

Mo Tailland / 18th February 2014

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