{"id":41272,"date":"2017-01-20T17:21:45","date_gmt":"2017-01-20T10:21:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/meet-asias-greatest-alpha-city-for-luxury-homes\/"},"modified":"2017-01-20T17:35:51","modified_gmt":"2017-01-20T10:35:51","slug":"meet-asias-greatest-alpha-city-for-luxury-homes","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/meet-asias-greatest-alpha-city-for-luxury-homes\/","title":{"rendered":"Meet Asia\u2019s greatest alpha city for luxury homes"},"content":{"rendered":"


\nOnly London and New York City are greater
\nAerial view of Shibuya District and Shibuya Crossing, Tokyo. Luciano Mortula\/Shutterstock
\nTokyo is still a dream destination for the wealthiest home buyers. It is, in fact, the third most desirable city in the world for buying luxury homes, according to the Alpha Cities Index released this week with the \u201cGlobal Property Handbook\u201d by Wealth-X with Warburg Realty and Barnes International Realty.
\nTokyo scored 70 out of 100 on the index, which tracks the buying preferences of ultra-high net worth (UHNW) individuals or those with a net worth of at least USD30 million. With 6,050 UHNWIs, Tokyo has the third largest ultra-wealthy populace of any city in the world, only behind London and New York City.
\n\u201cThe vibrancy of Tokyo gives it its heart and soul,\u201d the report stated. \u201cThe largest metropolitan economy in the world, it also has more luxury shopping destinations and more Michelin-starred restaurants than any other global city. Tokyo offers many fascinating contrasts, from its tradition and heritage on the one hand, to futuristic neon skyscrapers on the other.\u201d
\nScoring 77, London leads all global cities on the index, followed by New York City, which gained a mark of 75. The rankings were based on a range of \u201cpractical,\u201d \u201cemotional,\u201d and \u201cfinancial\u201d variables, including UHNW population, property value for money, property tax competitiveness, financial safe haven status, and green footprint.
\nMore: 11 most expensive cities for luxury homes in Asia
\nDespite the decline in Japan\u2019s general populace, the number of wealthy individuals in Tokyo has risen. Around 8 percent of the city\u2019s UHNWI populace are made up of foreign buyers, mostly from Taiwan and South Korea, with Chinese buyers increasingly gaining exposure to the Japanese capital due to the 2020 Summer Olympics.
\n\u201cWith the city set to host the 2020 Olympics, further improvements in infrastructure will underpin the residential market,\u201d the researchers predicted.
\nWhile luxury shopping proved to be its strongest suit, ranking number one in that category on the index, Tokyo lags behind its neighbours in terms of average home price per square foot. The city sits at number 45 on the property value for money category.
\nSydney and Paris ranks at number four and five on the overall index, followed by Osaka at number six. Other Asian cities down the list include Hong Kong, Singapore, Shanghai, Bangkok, Beijing, Dubai, Mumbai, Kuwait City, Shenzhen, Guangzhou, and Abu Dhabi.
\nRead next: Is time running out to buy in Tokyo?
\n
\nSource : property-report.com
\nRead more…Meet Asia\u2019s greatest alpha city for luxury homes<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Only London and New York City are greater Aerial view of Shibuya District and Shibuya...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-41272","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-aJG","jetpack-related-posts":[{"id":23175,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/not-even-the-2020-olympics-is-helping-tokyo-condo-prices\/","url_meta":{"origin":41272,"position":0},"title":"Not even the 2020 Olympics is helping Tokyo condo prices","date":"August 17, 2016","format":false,"excerpt":"\r Japan\u2019s currency is strengthening at the expense of the Tokyo property market Several sporting events will take place around the waterfront of Tokyo, host of the 2020 Summer Olympic Games. 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