The selected host city for the 31st Olympic Games in 2016 will be announced tomorrow (Thursday) at an IOC meeting in Copenhagen. There are currently four cities competing to host what is one of the most prestigious sporting events in the world.
Chicago (USA) is the favourite to win the rights to host the 2016 Games, followed by Rio de Janeiro (Brazil), Madrid (Spain) and Tokyo (Japan).
The other cities on the shortlist were Prague (Czech Republic), Baku (Azerbaijan), and Doha (Qatar), however they have now been eliminated.
Hosting the Olympic Games is likely to have a positive impact on the winning nation’s property market. Average property prices in the run-up the Olympic Games in the last five host cities – Beijing (China), Athens (Greece), Barcelona (Spain), Atlanta (USA) and Sydney (Australia) – appreciated at a significant pace, outstripping average national property price growth.
source: homesoverseas.co.uk
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