As part of a survey conducted last year, over 500 members of the public shared with us why they would invest in property and the response was typical. Themes of stability, reliability, diversification and low correlation with other major asset classes were raised.

Evidence shows that these attitudes are global. After a shaky 2016, marked by the fallout from Brexit and the US presidential election, we look at the trends that will likely dominate global this year.

The big picture: investors look above the fray of global political and economic risk

The knee-jerk reactions seen in 2016 now appear to be behind us. Major stock exchanges have long bounced back following the shocks and there seems to be a strong sense of business as usual. The recent IMF World Economic Outlook update showcased the broad consensus of forecasts suggesting that 2017 will be a year of “modest growth”.

Yet ongoing global economic and political uncertainty means these broad predictions come with a very clear health warning. Will Chinese rebalancing be managed successfully? Will consumer markets remain resilient?

Is the US about to start shredding its trade agreements? In light of these potential issues, it’s not difficult to imagine situations where investors are left exposed across multiple asset classes.

In our view, it is important to understand that balanced portfolios are fortified with assets that are above the fray. This explains why property, particularly residential property, is expected to remain a key investment theme in 2017. It also helps to understand why markets in the UK, US, Australia and Germany require special focus.

Brexit and beyond

After the UK voted to leave the EU, the British pound tumbled dramatically, causing residential property to become around 20 per cent cheaper for dollar-pegged foreign investors. Because of this, investors from the GCC and Asia are casting an eye over the UK market with renewed enthusiasm, recognising it as “the same old safe haven as ever — but cheaper”.

Investors are well placed to capitalise on this opportunity. Investors from the Middle East have been putting their money in the UK property market for a long time, and the appeal of British brick-and-mortar has become more pronounced after becoming far more affordable for dollar-pegged investors.

In recent years, Manchester and Liverpool have become some of the best cities in the UK for property investment. Manchester is one of the strongest buy-to-let cities in the UK. Not only are 63 per cent of households renting (24 per cent above the UK average), but in the extended city centre four out of five apartments are rented.

Reflecting the strong demand for rental properties- rental growth of 20.5 per cent is expected between 2017-21.

In Liverpool, property demand remains strong, with a 6 per cent price growth seen during June to September 2016. Demand is likely to rise further as the population of Liverpool is predicted to grow from 83,000 to 1.6 million by 2040.

As the UK begins the process of formal departure from the EU, a process likely to take around two years, the fundamentals that have long made UK property investment popular with GCC investors remain firmly in place, providing an attractive opportunity for long term investors to ride out any short term volatility.

Key markets to invest in 2017

Well-known for its striking architecture, Chicago is also one of the largest US cities. A hidden gem in the real estate world, the windy city is expected to be a key US property investment market through 2017. The city has the sixth highest GDP among world cities and is diversified across a variety of markets that include finance, technology, telecommunications and transportation.

Since July 2013, average condo prices have risen 16.2 per cent, while average prices at IP Global’s most recent Chicago project have risen 5-6 per cent since February 2015. These figures are extremely encouraging for potential investors.

Germany is also on our list of top investment destinations for 2017. A joint report from PwC and Urban Land Institute ranked Berlin as the No. 1 city in Europe for investment and development prospects. Strong economic growth and increasing population continue to underpin the German capital’s reputation as one of Europe’s prime destinations for residential property investment.

With a 40 per cent housing supply deficit, 400,000 new residents expected by 2030 and the opening of the Berlin Brandenburg Airport scheduled for 2018, the near term outlook for Berlin’s property market looks extremely promising.

The writer is Director and Head of Middle East at IP Global.