![\"A](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/engelvolkers-designervillainthecollectionatalbararicengelvolkersdubaimmc-w-046bm3-03-300x200.jpg\")
<\/div>\nCross-border house-collecting is gaining traction as a means of diversification for those fleeing political instability and wealth taxes. Indeed, for many of the globally mobile, the concept of primary and secondary residences is becoming outdated, with rotation between several locations across the year now increasingly common.<\/p>\n
Luxury real estate is an attractive option due to capital growth potential, lifestyle attractions, and the usual plus-points of good available education and healthcare. A spread of luxury real estate investments hedged across a few jurisdictions remains one of the most stable asset portfolios in uncertain times.<\/p>\n
But where to put your money? Whether you\u2019re a pure investor or are in the market for a palm-fringed exit strategy, here are the property hotspots to target in 2026.<\/p>\n
Where to buy luxury property<\/h2>\nThe investment play: Dubai and Abu Dhabi<\/h3>\n![\"luxury](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/engelvolkers-luxuryvillainthejumeirahgolfestatescengelvolkersdubaimmc-w-046mzd-11-2560x1708.jpg\")
The Jumeirah Golf Estates \u00a9Engel Volkers<\/figcaption><\/figure>\nIn May, Fitch Ratings predicted a ‘moderate correction’ in Dubai<\/a> pricing by 2026, following a 60 percent price increase from 2022 to March 2025. However, oversupply is restricted to the mid-range sector, says Liam Bailey, Knight Frank\u2019s global head of research, with competition for luxury property in Dubai still very intense in super-prime areas. Dubai, he adds, remains \u201cthe biggest super-prime market in the world, and I don\u2019t think that\u2019s set to change in the next 12 months.\u201d<\/p>\nLara Michaelsen, head of European private office at Engel & V\u00f6lkers<\/a>, agrees that the city-state, where expats make up around 90 percent of the population, is a good bet for luxury property in 2026. Yet it\u2019s not quite the boom market that it was, says Bailey. \u201cFour years ago, your tax-free salary would have given you a very good lifestyle, [but now] it\u2019s a much more expensive proposition.\u201d<\/p>\nInvestors are increasingly looking to Abu Dhabi<\/a>, says Victoria Garrett, head of global residential at Savills<\/a>, with its new international schools, \u201chuge infrastructure projects and amazing lifestyle. It\u2019s got a cultural hub with the Louvre and the Guggenheim, and Disneyland coming down the line.\u201d Prices are rising but \u201cfrom a lower price per square foot than Dubai,\u201d she says. Bailey, too, points out that \u201cthere\u2019s massive interest from the hotel brands, and all the branded residences want to be in Abu Dhabi.\u201d<\/p>\nThe lifestyle choice: Cascais and the Algarve<\/h3>\n![\"luxury](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/quintadolagoalgarve22msavills1-2560x1707.jpg\")
Quinta do Lago, Algarve \u00a9Savills<\/figcaption><\/figure>\nNearly half of the high-net-worth individuals in the US and Europe surveyed by Knight Frank in July 2025<\/a> plan to relocate to or move within Europe in 2026. Lisbon<\/a> and its surrounding areas are tipped as an emerging \u201cdistinct owner-occupier hotspot\u201d by Michaelsen. \u201cIt offers a high quality of life, and a relatively competitive cost of living compared to other major European capitals,\u201d as well as \u201cexcellent, though evolving, residency programs.\u201d<\/p>\nRising property prices have led to a shift in Portugal\u2019s Golden Visa scheme \u201caway from property and towards entrepreneurial investment,\u201d says Bailey. Newcomers who work in specific fields are exempt from paying tax on foreign income, and they also benefit from a 20 percent flat income tax for 10 years. Garrett recommends Cascais, on Lisbon\u2019s coastal northern tip. \u201cIt has the beaches, the quality of life and it also offers easy access to a city.\u201d <\/p>\n![\"luxury](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/cascaisportugal20msavills2-2560x1920.jpg\")
Cascais, Portugal \u00a9Savills<\/figcaption><\/figure>\nThese are among the attractions that drew Tristram Hillier, a British entrepreneur, to relocate there. His children now attend an international school and spend their free time sailing, golfing, and playing at Benfica\u2019s youth football academy. While most expats, he says, come to Portugal for its \u201cfantastic food and culture, the weather and the beaches [\u2026] you\u2019ve also got people who are moving away from something, and I think over the past few years, political change in America has driven that.\u201d<\/p>\n
Further south, the Algarve has undergone a transformation \u2014 from a coastal region with a collection of mid-range golf resorts to a year-round luxury lifestyle destination, with a notable expansion of international schools and high-end homes, according to Garrett. Americans are now joining the British, Irish, and Portuguese communities, drawn by the recent launch of the first direct flights from Newark to Faro. In high-end Quinta do Lago and Vale do Lobo, the price of super-prime luxury real estate rose by 25 percent from 2022 to the first quarter of 2025. Garrett expects further growth, \u201cbecause on the world’s stage it’s actually still looking like good value.»<\/p>\n
The buyers’ market: London<\/h3>\n![\"the](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/creditelicyon-2560x1650.jpg\")
The Broadway, London \u00a9Elicyon<\/figcaption><\/figure>\nPrime prices in the UK capital have been depressed for some time, leaving buyers wary. \u201cSales volumes at the top end are down by about half from where they were three years ago,\u201d says Bailey, while \u201cthe \u00a37m-plus market\u201d (approx. $9.3m) has been sinking since early 2024, when the government scrapped the \u2018non-dom\u2019 rules that had allowed some foreign residents to avoid tax on their overseas assets. For investors prepared to take a long-term view, London<\/a> is \u201cmuch more affordable than it has been in the past 15 years.\u201d Bailey knows of two investment funds that are «positioning themselves to buy prime London property as a kind of investment play.\u201d <\/p>\n![\"Apartment](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/credit-nickrochowskiva001_610south_016-2560x1829.jpg\")
The Whiteley, London \u00a9Nick Rochowskiva<\/figcaption><\/figure>\nMatthew Robertson, founder and CFO at Valouran, the super-prime London developer behind The Whiteley<\/a>, Bishops Avenue Gardens, and the Broadway, argues that, for an overseas buyer, prime London property \u201cis about 50 percent cheaper than it was in real terms\u201d at the market\u2019s 2014 peak, taking into consideration price drops, inflation, and sterling\u2019s fall against the dollar. \u201cSo at some point, this has got to look like a buying opportunity.\u201d Indeed, Savills predicts that prime central London values will drop by 4 percent by the end of 2025, rise by 1 percent in 2026, and rise annually thereafter by 3.5 to 5 percent in 2027-2029.<\/p>\nBetting on the brand: Miami<\/h3>\n![\"Miami](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2021\/05\/Northaerialshot-2560x1439.jpg\")
South Beach \u00a9Ritz-Carlton Bal-Harbour, Miami<\/figcaption><\/figure>\nMiami<\/a> has reached a critical point in its post-pandemic transformation from a vacation destination to one where businessmen and women and their families now base their lives. Booming demand drove luxury real estate prices sky high: by June 2025, those who invested in the city five years previously had seen price increases of more than 80 percent, according to Knight Frank. <\/p>\nHowever, Miami topped the most recent UBS Global Real Estate Bubble Index<\/a>, with the report noting that mainstream pricing \u201cis expected to turn negative in the coming quarters.\u201d The authors exempted \u201cthe luxury oceanfront condo segment,\u201d but other indications suggest that the top end of the market is not immune.<\/p>\nUsing year-on-year data, Knight Frank calculates that Miami started 2025 with the world\u2019s strongest growth in super-prime sales, only to contract by 52 percent the following quarter. The market has \u201creally cooled,\u201d says Bailey, after four years of \u201cspeculative pricing.\u201d His view is that Miami is entering a buyers\u2019 market: \u201cThere\u2019s more supply and more choice for buyers, who can now wait to strike deals.\u201d <\/p>\n![\"The](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/05\/TheResidencesatMandarinOrientalMiami_-min-2560x1594.jpg\")
The Residences at Mandarin Oriental Miami \u00a9Mandarin Oriental<\/figcaption><\/figure>\nOne enticing option for those seeking both a solid track record and a promising trajectory is branded residences<\/a>. Already home to 33 such developments, the city has 32 new projects in the pipeline, according to the latest Savills figures. Ritz-Carlton is the area\u2019s biggest player, with six existing buildings and nine more planned. <\/p>\n\u201cWe have seen incredible growth in our branded residences portfolio in South Florida,\u201d says Dana Jacobsohn, chief development officer for US luxury brands at Marriott International, Ritz-Carlton\u2019s parent company. \u201cSales momentum is excellent,\u201d she says, citing the forthcoming Ritz-Carlton Residences, South Beach, currently selling off-plan, which has \u201cyielded incredible reception in the market.\u201d <\/p>\n
Ritz-Carlton buyers are typically \u201cultra-high-net-worth individuals seeking prestige and privacy,\u201d she says. Such individuals are, in effect, investing in a quality trademark. Branded residences in the US are typically valued at more than 30 percent above comparable non-brand developments. In other words, the brand itself commands a distinct premium that provides reassurance to investors in unpredictable times.<\/p>\n
Establishment glow-up: Paris and Milan<\/h3>\n![\"two](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/twobedroompenthouseinmilan-2560x1707.jpg\")
Two bedroom penthouse in Milan \u00a9Knight Frank<\/figcaption><\/figure>\nEstablished European capitals have seen few luxury branded residence schemes. So the announcement by the Maybourne Group, owner of Claridge\u2019s<\/a>, that 2027 will see its first hotel in Paris<\/a>, accompanied by 23 ultra-luxury homes, has caused Francophile hearts to flutter.<\/p>\nKnight Frank\u2019s recent Residence Report also recommends Haven, \u201ca discreet developer\u201d poised to open \u201cits first full-building development on rue de l\u2019Universit\u00e9\u2026 in late 2026.\u201d The report concludes: In a city where new development has long been constrained by heritage and bureaucracy, this small cluster of schemes could change the narrative.\u2019 Over the five years to June 2025, prime Paris prices have grown by 13.7 percent. <\/p>\n![\"Two](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2025\/12\/insidetwobedroompenthouseinmilan-2560x1707.jpg\")
Two bedroom penthouse in Milan \u00a9Knight Frank<\/figcaption><\/figure>\nIn Italy, newcomers who become tax-resident benefit from a flat tax of \u20ac200,000 (just over $232,000) on annual foreign income. For Milan<\/a>, this, combined with the upgrading of the city\u2019s luxury infrastructure, has led to price strengthening of 7 percent in the 12 months to June 2025. <\/p>\n
In May, Fitch Ratings predicted a ‘moderate correction’ in Dubai<\/a> pricing by 2026, following a 60 percent price increase from 2022 to March 2025. However, oversupply is restricted to the mid-range sector, says Liam Bailey, Knight Frank\u2019s global head of research, with competition for luxury property in Dubai still very intense in super-prime areas. Dubai, he adds, remains \u201cthe biggest super-prime market in the world, and I don\u2019t think that\u2019s set to change in the next 12 months.\u201d<\/p>\n Lara Michaelsen, head of European private office at Engel & V\u00f6lkers<\/a>, agrees that the city-state, where expats make up around 90 percent of the population, is a good bet for luxury property in 2026. Yet it\u2019s not quite the boom market that it was, says Bailey. \u201cFour years ago, your tax-free salary would have given you a very good lifestyle, [but now] it\u2019s a much more expensive proposition.\u201d<\/p>\n Investors are increasingly looking to Abu Dhabi<\/a>, says Victoria Garrett, head of global residential at Savills<\/a>, with its new international schools, \u201chuge infrastructure projects and amazing lifestyle. It\u2019s got a cultural hub with the Louvre and the Guggenheim, and Disneyland coming down the line.\u201d Prices are rising but \u201cfrom a lower price per square foot than Dubai,\u201d she says. Bailey, too, points out that \u201cthere\u2019s massive interest from the hotel brands, and all the branded residences want to be in Abu Dhabi.\u201d<\/p>\n Nearly half of the high-net-worth individuals in the US and Europe surveyed by Knight Frank in July 2025<\/a> plan to relocate to or move within Europe in 2026. Lisbon<\/a> and its surrounding areas are tipped as an emerging \u201cdistinct owner-occupier hotspot\u201d by Michaelsen. \u201cIt offers a high quality of life, and a relatively competitive cost of living compared to other major European capitals,\u201d as well as \u201cexcellent, though evolving, residency programs.\u201d<\/p>\n Rising property prices have led to a shift in Portugal\u2019s Golden Visa scheme \u201caway from property and towards entrepreneurial investment,\u201d says Bailey. Newcomers who work in specific fields are exempt from paying tax on foreign income, and they also benefit from a 20 percent flat income tax for 10 years. Garrett recommends Cascais, on Lisbon\u2019s coastal northern tip. \u201cIt has the beaches, the quality of life and it also offers easy access to a city.\u201d <\/p>\n These are among the attractions that drew Tristram Hillier, a British entrepreneur, to relocate there. His children now attend an international school and spend their free time sailing, golfing, and playing at Benfica\u2019s youth football academy. While most expats, he says, come to Portugal for its \u201cfantastic food and culture, the weather and the beaches [\u2026] you\u2019ve also got people who are moving away from something, and I think over the past few years, political change in America has driven that.\u201d<\/p>\n Further south, the Algarve has undergone a transformation \u2014 from a coastal region with a collection of mid-range golf resorts to a year-round luxury lifestyle destination, with a notable expansion of international schools and high-end homes, according to Garrett. Americans are now joining the British, Irish, and Portuguese communities, drawn by the recent launch of the first direct flights from Newark to Faro. In high-end Quinta do Lago and Vale do Lobo, the price of super-prime luxury real estate rose by 25 percent from 2022 to the first quarter of 2025. Garrett expects further growth, \u201cbecause on the world’s stage it’s actually still looking like good value.»<\/p>\n Prime prices in the UK capital have been depressed for some time, leaving buyers wary. \u201cSales volumes at the top end are down by about half from where they were three years ago,\u201d says Bailey, while \u201cthe \u00a37m-plus market\u201d (approx. $9.3m) has been sinking since early 2024, when the government scrapped the \u2018non-dom\u2019 rules that had allowed some foreign residents to avoid tax on their overseas assets. For investors prepared to take a long-term view, London<\/a> is \u201cmuch more affordable than it has been in the past 15 years.\u201d Bailey knows of two investment funds that are «positioning themselves to buy prime London property as a kind of investment play.\u201d <\/p>\n Matthew Robertson, founder and CFO at Valouran, the super-prime London developer behind The Whiteley<\/a>, Bishops Avenue Gardens, and the Broadway, argues that, for an overseas buyer, prime London property \u201cis about 50 percent cheaper than it was in real terms\u201d at the market\u2019s 2014 peak, taking into consideration price drops, inflation, and sterling\u2019s fall against the dollar. \u201cSo at some point, this has got to look like a buying opportunity.\u201d Indeed, Savills predicts that prime central London values will drop by 4 percent by the end of 2025, rise by 1 percent in 2026, and rise annually thereafter by 3.5 to 5 percent in 2027-2029.<\/p>\n Miami<\/a> has reached a critical point in its post-pandemic transformation from a vacation destination to one where businessmen and women and their families now base their lives. Booming demand drove luxury real estate prices sky high: by June 2025, those who invested in the city five years previously had seen price increases of more than 80 percent, according to Knight Frank. <\/p>\n However, Miami topped the most recent UBS Global Real Estate Bubble Index<\/a>, with the report noting that mainstream pricing \u201cis expected to turn negative in the coming quarters.\u201d The authors exempted \u201cthe luxury oceanfront condo segment,\u201d but other indications suggest that the top end of the market is not immune.<\/p>\n Using year-on-year data, Knight Frank calculates that Miami started 2025 with the world\u2019s strongest growth in super-prime sales, only to contract by 52 percent the following quarter. The market has \u201creally cooled,\u201d says Bailey, after four years of \u201cspeculative pricing.\u201d His view is that Miami is entering a buyers\u2019 market: \u201cThere\u2019s more supply and more choice for buyers, who can now wait to strike deals.\u201d <\/p>\n One enticing option for those seeking both a solid track record and a promising trajectory is branded residences<\/a>. Already home to 33 such developments, the city has 32 new projects in the pipeline, according to the latest Savills figures. Ritz-Carlton is the area\u2019s biggest player, with six existing buildings and nine more planned. <\/p>\n \u201cWe have seen incredible growth in our branded residences portfolio in South Florida,\u201d says Dana Jacobsohn, chief development officer for US luxury brands at Marriott International, Ritz-Carlton\u2019s parent company. \u201cSales momentum is excellent,\u201d she says, citing the forthcoming Ritz-Carlton Residences, South Beach, currently selling off-plan, which has \u201cyielded incredible reception in the market.\u201d <\/p>\n Ritz-Carlton buyers are typically \u201cultra-high-net-worth individuals seeking prestige and privacy,\u201d she says. Such individuals are, in effect, investing in a quality trademark. Branded residences in the US are typically valued at more than 30 percent above comparable non-brand developments. In other words, the brand itself commands a distinct premium that provides reassurance to investors in unpredictable times.<\/p>\n Established European capitals have seen few luxury branded residence schemes. So the announcement by the Maybourne Group, owner of Claridge\u2019s<\/a>, that 2027 will see its first hotel in Paris<\/a>, accompanied by 23 ultra-luxury homes, has caused Francophile hearts to flutter.<\/p>\n Knight Frank\u2019s recent Residence Report also recommends Haven, \u201ca discreet developer\u201d poised to open \u201cits first full-building development on rue de l\u2019Universit\u00e9\u2026 in late 2026.\u201d The report concludes: In a city where new development has long been constrained by heritage and bureaucracy, this small cluster of schemes could change the narrative.\u2019 Over the five years to June 2025, prime Paris prices have grown by 13.7 percent. <\/p>\n In Italy, newcomers who become tax-resident benefit from a flat tax of \u20ac200,000 (just over $232,000) on annual foreign income. For Milan<\/a>, this, combined with the upgrading of the city\u2019s luxury infrastructure, has led to price strengthening of 7 percent in the 12 months to June 2025. <\/p>\nThe lifestyle choice: Cascais and the Algarve<\/h3>\n
The buyers’ market: London<\/h3>\n
Betting on the brand: Miami<\/h3>\n
Establishment glow-up: Paris and Milan<\/h3>\n