_Neighbourhood Watch: Technology & creative industries 

Mediaspree, Berlin

Dorothea Metasch, Ziegert Immobilien

Set in the heart of the borough of Friedrichshain- Kreuzberg, which straddles East and West Berlin, Mediaspree is now home to The Coca-Cola Company and Mercedes Benz, which sit alongside hip clubs and the district’s most iconic landmark, the listed Oberbaum Bridge with its striking towers. Corporations are following in the footsteps of the creative industries that have already set up home here and housing demand is surging accordingly. Berlin will soon get its first high-rise skyline with an entire row of residential projects planned along the waterfront. Two-bedroom apartments start at €500,000 and demand is expected to be high. 

Tophane, Beyoglu, Istanbul

Özlem, Pamir & Soyeur

Tophane, a neighbourhood within the Beyoğlu district of Istanbul, is located within walking distance of the Bosphorus and from 2017 is home to the Galataport Project, a major regeneration of the port and 1.2km waterfront that will deliver tourist, commercial and cultural development. To the north of Tophane, already home to the Istanbul Museum of Modern Art, tradesmen’s workshops share narrow streets with chic cafes and art galleries, while the area close to Boğazkesen Street, with its wood and stone buildings dating back to the Ottoman era, is attracting the attention of developers eager to marry the authenticity of the old facades with high-specification interiors. An older one-bedroom apartment in Tophane (70 to 80 sq m) starts at 500,000 liras, while a new one-bedroom apartment will fetch closer to 1.2m liras. 

Kamogawa River Area, Kyoto 

Nicholas Holt, Knight Frank Asia Pacific Research

Famous for its numerous Shinto shrines, Buddhist temples, gardens and palaces, Japan’s former imperial capital is attracting growing interest from property investors at home and abroad. Buyers from China, and in particular Taiwan, have been increasingly active in the new-build market, which has further encouraged a scramble for limited development land plots by developers.

Underpinning demand is a strong local economy centred around IT and tourism – Kyoto is home to 17 UNESCO heritage sites – the city’s beautiful mountainous backdrop and its limited supply of quality residential product. The Kamogawa River area, around the Kyoto Imperial Palace and Shimogamo shrine, has been the epicentre for much of this development and looks well placed to outperform its neighbours. 

Majiwada-Kasarvadavali, Thane, Mumbai 

Dr Samantak Das, Knight Frank India 

After decades of being labelled as the poor cousin, Majiwada-Kasarvadavali in Thane, a city within the Mumbai metropolitan area, is now showing signs of realising its promise. Up until a few years ago, the majority of job opportunities were in industry; now, the focus has shifted to the service and hightech sectors, with the country’s largest technology firms queueing up to set up offices. A new metro rail line will significantly boost connectivity, and the area’s social infrastructure – premium malls, good schools and excellent healthcare facilities – is improving rapidly alongside the development of amenity-rich, high-rise residential projects. At around Rs10m to Rs15m for a two-bedroom apartment, property prices in Majiwada- Kasarvadavali remain very competitive – for now. 

Regina Yang, Knight Frank China

Located in Shanghai’s Pudong district, east of the historic centre, Zhangjiang has been known as an industrial area and manufacturing base since the early 1990s. But in recent years, the area has been transformed into a major residential community, following in the footsteps of neighbouring Lianyang Huamu. As an IT hub, Zhangjiang attracts talent from the manufacturing, IT, bio-medical and new materials sectors, which is creating strong residential demand. Rapid infrastructure development has also brought people into Zhangjiang: a further five metro lines will soon pass through the area, in addition to the existing Metro Line 2. A budget of 40m yuan will buy a detached villa of around 300 sq m, while a larger home of around 1,000 sq m will command 150m yuan. Twoand three-bedroom apartments of 90 to 130 sq m fetch between 5m and 7m yuan respectively.