Japan, after many years in the doldrums, is becoming a property investment option again. “Since the bubble burst the market hasn’t been moving, but now, with more investment in infrastructure and regeneration, it’s moving quite a bit,” says Wong.

And it’s not just Tokyo: Osaka is also popular, as is Fukuoka. Kyushu island’s biggest city might seem like an unusual choice, but its seaside location and winning combination of ancient and modern and making it an increasingly popular option with lifestyle-conscious younger Japanese.

“It’s popular with investors chasing a higher-yield option,” says Wong. “It has a vibrant market. The city has a strong economy, but property prices aren’t yet feeling the upside like, for example, in Tokyo.”

The ongoing strength of German economy makes Berlin an increasingly popular choice. Plus prices, although rising fast, are still not excessive.

“Buyers are very into the story—the transformation of the city, its diversity, its youth, and the amount of creative business going on there,” says Wong.

With a market nowhere near as overheated as Vancouver, more Hongkongers are looking to Montreal. It helps that McGill University is attracting more and more Hong Kong students—and that, for those who want to use their property as a second home, Quebec offers more generous visa terms than British Columbia.

Attracting increasing attention but still not at the top of most people’s lists, Ho Chi Minh City offers Hongkongers low prices and a reasonably familiar market. Restrictions on ownership and the complete unavailability of financing for foreign buyers, however, are hindrances.

“That said, at the present time it’s attracting more mature investors,” says Wong. “Later on, if things change like the ownership rules, it could attract more mass-market buyers.”

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