Sydney and Vancouver Rise to the Top for the Wealthy

Sydney and Vancouver are attracting a growing number of wealthy families looking to invest in luxury real estate abroad, says a recent report by Wealth-X and Sotheby's International Realty. Here are a few things to consider if you are thinking of buying in those two cities: -While home prices in these markets are on the rise, they still remain lower than some major global hubs. Over the past year, property values have increased 15.1% in the Australian city and 12.3% in Vancouver. In comparison, says the report, prices in central London went up 42% between January 2010 and June 2015. -A push for a lower Australian dollar by the country's central bank is making property cheaper for international buyers with U.S. dollars, according to a report by The Australian (paywall). Still, there's growing concern that the Sydney real estate market is approaching a peak. -In Canada, rising costs, driven in part by foreign demand, is apparently causing some local resentment. This week, Prime Minister Stephen Harper raised the possibility of limiting foreign homeownership if needed. Read the Wealth-X/Sotheby's International Realty full report here. View the Vancouver listing on Mansion Global Follow Mansion Global on Facebook, Twitter and Instagram Write to us at info@mansionglobal.com