World's 10 Hottest Real Estate Markets

2. Hong Kong 

Average 5-year price growth: 93.7 percent

The flourishing economic market makes Hong Kong one of the most sought after city in Asia. Besides its strong economy, Hong Kong is an expensive location for luxury real estate. According to the latest data from Knight Frank, a real estate agency, Hong Kong topped the list for world’s most expensive cities to rent an office. Hong Kong’s real estate market has emerged to be a hot cake and all wealthy investors want to have a piece of it. However, In Hong Kong, an average price of a luxury property was about $47,500 per square meter in the fourth quarter of 2011, whereas the square feet price was $4,400, world’s fourth highest. With the low interest rates and flourishing economy, Hong Kong is one of the hottest real estate markets to buy property. Interestingly Hong Kong doesn’t impose taxes on income or sources coming from overseas.

1. China

Average 5-year price growth: 110.9 percent

China tops the list of world’s hottest property market. Over the past 5 years, housing prices in major cities like Beijing and Shanghai have shoot upto 110 percent. Also, Beijing, the capital city of China stood at 5^thposition on the list most expensive cities to rent an office. In Shanghai, the average price of a home in prime areas was $19,400 per square meter in the fourth quarter of 2011. According to Knight Frank, the same home price in Beijing was about $17,400 per square meter.