Who would have guessed that Monte Carlo ranks as the most expensive city in the world for the second year running… yes, right we did. With average prices of $47,578 per sq.m. it is no wonder.
If that is not reason enough to buy a home there what else would be. And we did mention that just around the corner is Monaco with one of the best yacht harbours in the world.
Seeing Moscow rank so high is actually a surprise for us. Especially since it outranked London, known to be expensive. Moscow clocked in with $20,853 per sq.m
As already mentioned, London is only a fraction behind Moscow with $20,756 per sq.m. But given the choice we would buy in London any day before going to Russia (no offense intended). It’s just that we love London’s vibrancy and what the city can offer residents. There is never a dull moment and besides the weather – here we go again – we really love London to bits. It’s the city that never sleeps for sure.
Plus, you’ve got to love crowds too. And did we mentioned the Shinkansen?
5. Hong Kong
If you decide to fork out your hard earned money for your own home, then you can take advantage from hidden markets, nearby islands and lovely local beaches. If you are keen you can always visit Disney too. All of this would come at a price of $16,125 per sq.m.
Good food, great shopping outlets and not to forget plenty of water are all draw-cards for potential buyers.
But jokes aside, it has its niceties. Take the Eiffel Tower for example, great views from the top. Or a boat trip on the river Seine should not be looked over for a weekend trip. Buying a home there though requires some decent funding with $12,122 per sq.m. not cheap but certainly more affordable than Monte Carlo.
But as a reward you might get to see the pope or visit the Spanish steps. One thing the Italians certainly know is how to live life and yes we forgot, how to cook. Living in a city like Rome will most certainly pile on the extra kilos.
If you want to buy real estate in Mumbai, you are looking at around $9,163 per sq.m.
All of these data has been based on the average price of a 120 sq.m. apartment within the city centre and in good condition. In total, more than 110 cities around the world were surveyed for this purpose and data was collected during 2008.
Given the fact that it is in Russia, maybe all that new wealth Russian money did affect the market, skyrocketing property prices like crazy.