Despite the global economy being the way it is, there are still several locations worldwide where prices stay sky-high. With some countries being safer and stabler than others and others being more important for business and finance, it’s no surprise that they are desirable to live in.
As a result, the demand for properties in these locations remains high, as do their prices.
There are plenty of ways to rank these locations. In this article, we’ll look at some of the most expensive cities in the world for real estate.
Hong Kong
Hong Kong is notorious for its sky-high real estate prices. In fact, it is consistently ranked as one of the world’s most expensive real estate markets.
There is a limited supply of land, a gorgeous view, and a huge influx of foreign investors. As a result, the city’s property prices soar to unprecedented levels. The Central District, for example, is known for its financial prowess and stunning sights. With higher income levels come higher property prices.
While the actual price fluctuates frequently, the cost of one square meter of property is upwards of USD $20,000, making it one of the most expensive residential spots worldwide.
Monaco
Though Monaco, perched on the French Riviera, is a tiny city, it’s a playground for the world’s richest people. It has everything needed to have fun when you have a lot of cash to spare – glitzy casinos, the Formula 1 Grand Prix, luxurious yachts, and much more. No wonder it’s home to some of the most coveted addresses on the planet!
But alongside these luxuries, Monaco has some of the world’s most expensive real estate. Like in Hong Kong, the cost per square meter starts at USD $20,000 and can reach up to $100,000.
As luxurious as the property is here, it definitely dents your wallet.
London
London is a prime location for historical significance, financial prowess, and cultural allure; there’s no shortage of reasons for people to come to London.
But while London has more straightforward spots for the average person, some parts of the city are synonymous with luxury living. Mayfair and Knightsbridge, for example, are affluent areas with high rent and purchase prices.
The average cost of a home in these spots can be as high as $17,000 per square meter. While the average cost of a home in London remains lower than those of Hong Kong or Monaco, the more affluent areas are much more expensive than the rest of the city.
New York City
New York City is the epitome of urban glamor. It’s featured in several movies, TV shows, and books, and Times Square is known as the global entertainment hub, smack in the middle of Manhattan.
To go with the prestige of living in New York City comes a real estate market with astronomical prices. Plenty of luxury condominiums with breathtaking views are sought after by affluent buyers worldwide.
Real estate prices per square meter in NYC touch the $15,000 mark, so it’s not far behind some other cities on this list!
Whether you’re looking for something along this range or something a lot more pocket-friendly, you need a real estate agent, and our professionals are here to help! Megan Dowdy Realty has the best Florida realtors who can help you find your dream home – without putting a hole in your wallet. Contact us now for more information!
