_Next neighbourhoods

Once again we have challenged our global residential property experts to demonstrate the depth of their local knowledge by hand-picking those districts and neighbourhoods that they believe are the “ones to watch”.

The neighbourhoods that follow include thought-provoking options in traditional wealth hubs, such as London and Hong Kong, where Knight Frank has operated for many years, as well as contenders in more recent additions to our global network, such as New Zealand and the Philippines.

The line-up ranges from emerging tech hubs to new cultural quarters, taking in transformational factors from development projects to new transport links. Take Boston’s  Seaport District: a stone’s throw from the city’s Financial District, it has a blossoming residential community with the Institute of Contemporary Art at its heart. By contrast, it is scholastic credentials that bring Perth’s Applecross to the fore, with good connectivity to three world-class universities and top private schools. Each selection tells a unique story, showing that there really is no substitute for a bit of insider intelligence.

Wynyard Quarter, Auckland

Ian Little, Bayleys Realty Group

Home to the 2021 America’s Cup, Wynyard  Quarter is changing – fast. Over the past decade, this waterfront precinct, once the heart of  Auckland’s marine and petrochemical industries, has emerged as a major hub for national and international corporates, including Fonterra, Datacom, Microsoft and ASB Bank, as well as for the city’s innovation and co-working scenes.

As the local business community has grown, so too have the entertainment and hospitality options on offer. In 2016, the NZ$36 million ASB theatre – the new home of the Auckland Theatre company – opened immediately adjacent to the waterfront restaurant, bar and café strip.

With all this activity comes a growing residential population and, inevitably, a sweep of new residential development projects. Apartments at 132 Halsey are attracting some of the city’s highest values. Other new developments offer a wider range of purchase prices: for example, the 91-unit 30 Madden St project includes maisonettes and penthouses from NZ$600,000 to NZ$6 million. Plans have also been announced for a 435-apartment and retail complex.

Applecross, Perth

Michelle Ciesielski, Knight Frank Australia

Picturesque jacaranda trees line the streets of the affluent suburb of Applecross on the southern banks of the Swan River, less than nine kilometres, or one train stop, from Perth’s CBD. With good connectivity to three of Western Australia’s world-class universities, the state’s top private schools and the soon-to-be-expanded Garden City shopping centre, Applecross attracts both local and international families, drawn to its combination of proximity to Perth’s urban action and quiet suburban allure.

Located within the Canning Bridge Precinct, Applecross’s town square is transforming to provide a unique, vibrant and creative community hub with a mix of residential, commercial, recreational and cultural uses. This ongoing regeneration will  introduce more high-density living, with well-appointed apartments starting from A$600,000. Houses in Applecross start from A$1.5 million, putting it among the  ten highest-priced suburbs in Perth.

St Kilda Road Preceinct, Melbourne

Sarah Harding, Knight Frank Australia

Leaving Melbourne’s business district and strolling down St Kilda Road towards the beach, you could be forgiven for thinking you were on a wide tree-lined boulevard in a European city. At the northern end, multiple tram stops provide access to such attractions as the Royal Botanic Gardens, the National Gallery of Victoria and the Arts Centre, while to the south, Fawkner Park, The Alfred Hospital, Albert Park Lake and some of Melbourne’s top private schools are in walking distance.

The precinct has a well-established office market, popular with advertising agencies  and tech companies who prefer to be outside the traditional CBD. A thriving co-working scene is fuelled by popular cafés and restaurants, such as seafood stalwart Bacash and hip newcomer Matilda 159. Several secondary office buildings are earmarked for high-end residential conversion, encapsulating the area’s live/work ethos. Expect to pay in the region of A$1.8 million for a prestigious St Kilda Road apartment.

11th arrondissement, Paris

Roddy Aris, Knight Frank International 

Located on the edge of the historic Marais district, the 11th arrondissement is a young, vibrant neighbourhood. Foodies and fashionistas flock to the chic eateries and boutiques in and around the Place de la République and Place de la Nation – try Septime for a fresh twist on the bistrot tradition, or Le Clown Bar, in the old Cirque d’Hiver, for a taste of the city’s lively natural wine scene.

Home to around 150,000 residents, the 11th is benefiting from the ripple effect emanating from the bohemian buyers that have already helped push up property values in the neighbouring 10th arrondissement. Young single professionals gravitate towards the Oberkampf district to the north, while families veer further eastwards to take advantage of the parks and squares.

Properties range from large Haussmann apartments on wide boulevards, such as Avenue Voltaire, to lofts and ateliers in the  more commercial districts.

A three-bedroom apartment on one of the main boulevards starts at €850,000, while the same property in the 4th arrondissement would be closer to €1.2 million.

Lucca, Italy

Amy Redfern-Woods, Knight Frank International 

Lucca, one of Tuscany’s most scenic cities, dates back to the Roman Empire. Cobbled streets, piazzas, galleries, museums and over 100 churches all lie within the Renaissance walls that encircle its historic centre. 

The city boasts a lavish selection of upmarket restaurants. For something new, try Il Punto or, for a more traditional taste, Buca di Sant’Antonio, which has been serving local cuisine since 1782. Home to a mix of wealthy locals and musicians, Lucca offers a good quality of life alongside a strong sense of community and an array of events and festivals, including the Lucca Summer Music Festival, that also appeal to overseas buyers.

Located within an hour’s drive of Pisa and Florence airports, and only a 30-minute drive from the Mediterranean coast, Lucca offers a peaceful alternative to some of Italy’s more tourist-led markets. A three-bedroom, recently restored apartment with lift averages around €800,000, while a larger four- or five-bedroom apartment with a garden and a lift can be acquired for around €1.5 million. 

St Jean District, Cote d'Azur

Jack Harris, Knight Frank International 

Renowned as the capital of France’s illustrious perfume industry, the region to the east of Grasse, known as the St Jean District, is punctuated by grand Provençal estates with traditional features such as exposed beams, wooden shutters and landscaped gardens. Just 25 minutes from the glamour and buzz of Cannes, it’s an area that appeals to those looking for easy access to the coast combined with a slower, more traditional way of life. It’s also within easy reach of beautiful historic villages, such as Valbonne and Mougins, home to the eponymous international school.

St Jean’s popularity is growing once again among international buyers looking to capitalise on its relative value. Prices  for the area’s grand manor-style houses and medieval bastides have dipped by around 20% over the last five years, and a four-bedroom residence with 5,000 sq m of gardens starts at around €1.4 million.