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Home Economy

Chicago tops list of best cities for real estate investment 

1 year ago
in Economy, Features, highlights, Home, home-news, latest News, Real Estate
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Chicago tops list of best cities for real estate investment 

A recent study by Banking Methods Company analyzed more than 30 cities to identify the best ones to invest in real estate by analyzing several key metrics: the average price per square meter for property purchase and  the rent price per square meter.
Additionally metrics like average one bedroom apartment size and average rent were added for the context.
The ranking was determined based on the return on investment time, which is the number of years required to get the initial property investment back through rental income.
Chicago tops the list as the best city to invest in real estate, with a return on investment time of approximately 8.67 years. Chicago has the shortest time to recoup the investment, with an average price of $3,164.64 per square meter and a decent apartment size of 66.80 square meters.
Miami ranks second on the list with a return on investment time of around 11.73 years. Compared to Chicago, Miami has a slightly longer return on investment time but still has a strong appeal due to its position near the ocean.
Barcelona holds the third place with a return on investment time of approximately 15.17 years. Even with the smallest one bedroom apartment size on the list at 39 square meters, the investors are still interested in buying apartments as investment in this touristic seaside city.
Madrid ranks fourth with a return on investment time of about 15.96 years. Compared to Barcelona, Madrid offers slightly larger apartments at a lower cost per square meter, averaging $4,005.37 per square meter.
Dublin is the fifth best city for real estate investment, with a return on investment time of 16.63 years. The city’s average price per square meter is $6,710.25, which is the highest in the top 5, while the rent is the 2nd highest and balances the return on investment.
Bucharest ranks sixth with a return on investment time of 17.30 years. Bucharest’s affordability makes it an attractive investment option as the city offers the lowest average price per square meter of $2,182.17 and the lowest rent per m2 at $10.51.
Los Angeles is seventh, with a return on investment time of approximately 17.75 years. Los Angeles offers the most space for investment, having the largest average apartment size on the list at 67.08 square meters and an average price per square meter of $7,601.75 (second highest).
Washington, D.C., ranks eighth with a return on investment time of 18.98 years. It has the highest average price per square meter on the list at $8,381.90 and the highest rent per square meter at $36.80, combining high prices with large apartments and high rents.
Copenhagen is ninth with a return on investment time of 19.11 years. Copenhagen’s high living standards attract investors, with the average price per square meter being $6,760.97, and the size of a one-bedroom apartment is 51.50 square meters.
Oslo rounds off the list with a return on investment time of 20.09 years. When compared to Copenhagen, Oslo offers slightly smaller apartments at a higher price per square meter and higher rent, making it a balanced choice for investors.
Check list below:
CityPrice of the m2 when buying a house in 2024 (city center)Price of the m2 when buying a house in 2024 (outside center)Average price purchase m21 bedroom apt. sizeAverage price rentPrice per m2MonthsYears
Chicago3,552.09$2,777.18$3,164.64$66.80$2,030.89$30.40104.098.67
Miami6,365.61$3,913.75$5,139.68$66.43$2,425.13$36.51140.7811.73
Barcelona6,098.72$4,139.42$5,119.07$39.00$1,096.79$28.12182.0315.17
Madrid5,036.91$2,973.83$4,005.37$45.15$944.15$20.91191.5415.96
Dublin7,812.31$5,608.18$6,710.25$54.65$1,837.92$33.63199.5316.63
Bucharest2,688.03$1,676.31$2,182.17$42.00$441.50$10.51207.5917.30
Los Angeles8,023.12$7,180.37$7,601.75$67.08$2,393.45$35.68213.0417.75
Washington9,804.26$6,959.53$8,381.90$66.98$2,464.85$36.80227.7818.98
Copenhagen7,950.20$5,571.74$6,760.97$51.50$1,518.47$29.48229.3019.11
Oslo8,522.19$6,005.87$7,264.03$40.00$1,205.08$30.13241.1120.09
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