The Rise of Asia Pacific Cities

aptrade

Here’s an interesting post:

During the nineteenth and twentieth centuries cities in the Atlantic region flourished.  As key centers for “world trade” (or at least trade between Europe and the Americas, which to many was the world), great streets for commerce and neighbourhoods for families emerged, including highly exclusive addresses.

Many of these great Atlantic world cities still have pricey neighbourhoods whether for businesses in the form of office space costs or people.

But, if a recent Coldwell Banker survey is any indication, they are gradually being eclipsed by Asia Pacific cities.   In cities worldwide, Coldwell Banker queried the price of a 4 bedroom, 2.5 bath, 2200 sq. ft. home, the type of place that “middle management transferees” being relocated to a city might want for their families.

In North America eight of the top 10 are on the pacific coast.  Outside North America, some of the old Atlantic World, and even Mediterranean world cities remain on the list.  However two of the top five are also in the pacific world.

source: http://allaboutcities.ca/asia-pacific-cities-and-premium-home-prices/

From that same post, they reference the Globe and Mail with the following table of “move-up” SFH prices:

North America’s 10 most expensive markets(in U.S. dollars)

  • La Jolla, Calif.: $2.12-million (U.S.)
  • Beverly Hills: $1.98-million
  • Greenwich, Conn: $1.52-million
  • Palo Alto, Calif.: $1.49-million
  • Santa Monica, Calif.: $1.46-million
  • San Francisco: $1.36-million
  • Boston: $1.34-million
  • Newport Beach, Calif: $1.3-million
  • Palos Verdes, Calif.: $1.24-million
  • Vancouver, B.C.: $1.17-million

Outside North America

  • Singapore: $1.89-million (U.S.)
  • Milan: $1.64-million
  • Florence: $1.61-million
  • Shanghai: $1.38-million
  • Bucharest: $1.37-million
  • Hamilton, Bermuda: $1.35-million
  • Rome: $1.26-million
  • Dublin: $1.13-million

Thoughts?

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