_Neighbourhood watch: Value for money

One strategy for identifying tomorrow’s hot investment is to start with today’s most unfashionable. Following a dismal 2016 – with price falls of up to 10% and sales volumes plunging 25% – the prime central London market could stake a convincing claim to that title. However, a little perspective is required. This is a market which has over the last 40 years delivered annual average total returns of 14%, while outperforming every major global luxury residential market.

And, at its very heart, sits Mayfair, an already gilded enclave now being buffed and burnished by the addition of a range of upmarket retail, hotel, restaurant and streetscape investments. Gentrification might not be quite the right word for Mayfair’s latest overhaul, but the area’s position as London’s leading residential address is set to be cemented over the next few years by the arrival of some of the world’s most prestigious residential developments.

East of Beverly Hills, heading towards downtown Los Angeles, lies Hancock Park. Built in the 1920s around the grounds of a private golf club, the Wilshire Country Club, and the Los Angeles Tennis Club, the neighbourhood’s large East Coast-style homes are attracting growing demand.

Highend restaurants, new boutiques and good private schools are tempting those buyers who have smaller budgets, yet want to remain within a 10 to 15 minute drive of Beverly Hills.

With values almost half those found in neighbouring upmarket districts such as Santa Monica, Venice Beach and Beverly Hills, a four-bedroom detached home on a 10,000 sq ft plot starts at around US$5m.

The South Coast of Barbados has long been overlooked, with most buyers gravitating instead towards the island’s western coastline. Beachfront locations around Accra Beach and St Lawrence Beach now offer relatively good value and easy access. By comparison, the opportunities for those looking in the US$1 to US$2m bracket on the West Coast are narrowing. Developers have picked up on this trend with the delivery of new projects such as the Capri development that should attract further high-quality development to the South Coast.

Situated on the slopes of Table Mountain, this is the last remaining inner city area available for redevelopment and benefits from an Urban Development Tax Incentive scheme that encourages urban renewal through private sector investment.

A mixed-use area, Woodstock features warehouses, loft conversions, new apartment blocks and a mix of freestanding and semi-detached homes, many of them Victorian. These latter properties in particular are highly sought after by those seeking an urban, cosmopolitan and trendy lifestyle close to Cape Town and keen to take advantage of Woodstock’s convenient transport links and popular entertainment venues. The average price of a property has risen sharply in recent years to 2.2m rand.

The 10th arrondissement, in the north-east of central Paris, combines stunning period buildings that capture the history and essence of the French capital with a hip, edgy atmosphere that appeals to a young, trendy crowd. With neighbouring arrondissements such as the 2nd and 9th commanding higher prices, the 10th offers great value in an enviably central location.

The wide boulevards, walkways and bars and restaurants springing up along the Canal St Martin – a car-free zone at weekends, to the delight of cyclists and pedestrians – combine to create a vibrant and diverse neighbourhood. There is a cosmopolitan feel about the area that attracts artists, fashion designers and those working in the creative industries, which has in turn led to a wave of trendy affordable boutiques. A 100 sq m apartment will cost between €750,000 and €950,000.