Cities in Pakistan, Mexico and North Africa are among the most popular markets for international house hunters investing in emerging markets.
That’s the findings of the latest survey of searches on international online property listings firm Lamudi.
Capital cities have been the most popular locations for home-hunters, and Karachi tops the list of most searched cities in Asia, while Mexico City and Lagos are the most sought-after locations in Latin America and Africa.
“With buoyant economies, it is little surprise that capital cities prove to be the most popular locations for our customers,” said Paul Philipp Hermann, co-founder of Lamudi. “Whether you are looking to buy or rent residential or commercial property, these capitals have a wealth of opportunities. This is reflected in the numbers of people searching for property there.”
The cities which made the top five ‘most searched’ areas in each continent are:
- Karachi, Pakistan 26% of searches
- Lahore, Pakistan 22% of searches
- Yangon City, Myanmar 20% of searches
- Dhaka, Bangladesh 20% of searches
- Islamabad, Pakistan 12% of searches
- Cuauhtémoc, Mexico City 28% of searches
- Benito Juárez, Mexico City 28% of searches
- Miguel Hidalgo, Mexico City 22% of searches
- Coyoácan, Mexico City 10% of searches
- Santiago de Cali, Colombia 10% of searches
- Lagos, Nigeria 37% of searches
- Casablanca, Morocco 32% of searches
- Nairobi, Kenya 19% of searches
- Marrakech, Morocco 5% of searches
- Rabat, Morocco 4% of searches
Last month, Lamudi announced that they had become the fastest growing online property portal in Pakistan, uploading more than 15,000 new listings per month.
There was also a large interest from property-hunters in Yangon City, Myanmar.
Business confidence in Myanmar is growing, and GDP growth of the economy is expected to hit almost 8% this year - more than that of its neighboring Asian countries, including China.
The rapidly improving economic situation of Myanmar is now reflected in interest in the country’s property market.