There are many places currently around the world where condo prices are skyrocketing due to varying environmental factors such as:
1. Scarcity of land in Centralized Areas
2. Booming populations wanting to move closer to work spaces where residential space is limited
This has caused an issue particularly in economic powerhouse cities such as Tokyo, San Francisco, New York, Hong Kong, where young people cannot afford to live anymore.
Landlords are regularly increasing rent prices due to demand, knowing that the highest bidder will get their lot. Moreover, young adults (and even older) looking for a space close to their college/university, or work, are unable to afford the prices and in turn have to live much further out and inconvenience themselves to commute daily to their destination.
So, there are more and more people looking for cheaper places to live that still have a greater quality of life, what would some of those be?
1. Southeast asian countries such as Thailand, Malaysia, Vietnam, and Singapore
Believe it or not, these areas have been increasing in quality of life due to tourism (particularly in Thailand and Malaysia) helping develop their local economies and thereby growing. You can find beautiful lofts for dirt cheap simply because of the power of their dollar, pr invest in businesses (having connections in this matter helps). Many young expats are moving to these countries for work and to live a luxurious lifestyle which they could not otherwise afford in their own countries.
2. Tech cities and countries
Estonia, Austin Texas, San Diego, are fast becoming some of the leading tech hubs around the world. The new silicon valleys are popping up in these places, rent is much cheaper and the standard of living is still extremely high. These are great places for young people to move.