In 2018, real estate activity slowed in some top luxury markets such as New York City, a trend many experts believe is likely to continue in the new year. Despite the slowdown, a wealth report from Douglas Elliman and Knight Frank found that nearly a quarter of ultra-high-net-worth individuals worldwide plan to invest in real estate in the next year or two. “There was a hangover after the financial crisis, so people are moving assets into more tangible products,” says Liam Bailey, the global head of Knight Frank’s research department. Robb Report asked experts at some of the world’s leading real estate companies to weigh in on their predictions for 2019. From Paris to Tokyo, here are the markets they predict will be hot in the new year.