The 10 Priciest Real Estate Markets in the World
New York is the lone U.S. city to land in the top 10 most expensive residential real estate markets in the world, according to a new report from Knight Frank. But with luxury homes in New York costing anywhere from $2,030 to $2,240 per square foot, it’s only about half as expensive as the most expensive housing market in the world: Monaco. There, luxury homes can cost $5,350 to $5,920 per square foot.
The following are the top 10 priciest housing markets in the world and the average cost per square foot in U.S. dollars, according to the report:
- Monaco: $5,350 to $5,920
- Hong Kong: $4,570 to $5,050
- London: $3,890 to $4,300
- Geneva: $2,720 to $3,010
- Paris: $2,350 to $2,600
- Singapore: $2,340 to $2,580
- Moscow: $2,040 to $2,260
- New York: $2,030 to $2,240
- Sydney: $2,020 to $2,230
- Shanghai: $1,820 to 2,020
Other U.S. cities rounding out the top 20 list were Miami at number 13 (priced between $1,300 to $1,440 per square foot) and Los Angeles at number 15 (priced between$1,210 to $1,340 per square foot).
Source: “Here Are the World’s Most Expensive Real Estate Markets,” The Business Insider (March 7, 2013)
Wow, Vancouver starts to look pretty affordable, doesn't it?
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