Ever wondered how much properties will cost in the most luxurious places in the world? Here’s a quick spoiler: it’s super expensive. The rich and famous will surely enjoy living in these expensive cities that scream glamour and power.
Based on Knight Frank’s latest Prime International Residential Index, here’s the top ten most expensive cities to buy property in the whole wide world. Feel free to put them in your mood board for real estate inspiration. Who knows? Maybe you’ll be able to buy a property in these luxurious places in the next few years.
#10: SHANGHAI
Known as the largest city in China, Shanghai is also the economic and cultural center of the said Asian giant. It was the dubbed the “Paris of the East” from the 1920s to 1930s because of its cosmopolitan beauty mixed with oriental charm. Reportedly, 46.2 square meters of luxury property costs a whopping $1 million.
#9: MOSCOW
Moscow has a whopping population of 10, 562, 099 and is one of the largest city in the entire world. As the capital of Russia, Moscow is the center of the business and economic surrounded by glamorous palaces, churches, and awe-inspiring monuments. It’s also a major hub for artists with its roasts of famous authors like Pushkin and Bulgakov. For $1 million, you can own a 43 square meters upscale apartment. If you want a unit in the palatial Ostozhenka, then you have to shell out at least $2.2 million.
#8: Paris
As Oscar Wilde once said, “When good Americans die, they go to Paris.” A list of expensive places will never be complete without The City of Light. Paris, with its unforgettable sights, monumental architecture, streets that ooze with culture, and of course, the iconic Eiffel Tower, is of course very costly. Your $1 million will only get you a 41 square meters of property. But who cares, if you can live in a city full of romance and mystery?
#7: SYDNEY
The largest city in the Australian continent, Sydney prides itself for being a multi-cultural and multiethnic city. It’s also known for being one of the most beautiful harbor in the world with the Sydney Opera House glimmering at its edge. Living in this city down under will cost you $1 million per 41 square meters of upscale property.
#6: NEW YORK
Of course, the Big Apple is on the list. It’s home to the biggest economic hot spot after all, like Wall Street. Living in this city that effectively combines old glamour and art can definitely cost you a lot. Your $1 million will get you a 40.2 square meter property.
#5: GENEVA
To simply put: Geneva, Switzerland is stunning. It’s strategically located at the panoramic shores of Lake Geneva, the largest lake in all of Europe. Walking down the charming streets of this city will give you a view of the crystal blue body of water. Geneva is home to more than 130 five star hotels and other luxurious destinations. A 34.7 square meters property is worth $1 million.
#4: SINGAPORE
Singapore may be small but it’s one of the biggest economic giant in Asia. The Lion City promises the ultimate urban living with its big skyscrapers and effective transportation. A $1 million will get you a 32 square meter property.
#3: LONDON
London is a living witness to every historical turning point of Britain. And because of this, real estate in this city will surely cost you A LOT. Your $1 million will only get you a 25.2 square meters property.
#2: HONG KONG
A popular tourist destination in Southeast Asia, Hong Kong is definitely a must visit. It’s also famous for its Asian and European influences that can be seen all over the city. Pack lightly when moving in because a 20.6 square meter property costs $1 million.
#1: MONACO
The Principality of Monaco is number one as the most expensive city to buy property. Even though it is the second smallest country in the world (with a total area of 2 square kilometers), Monaco prides itself for being rich in culture and history. It’s most famous for its casino in Monte Carlo where James Bond movies are always set up. Prepare to live in a tiny 15 square meter for $1 million.
The takeaways:
There are three things that we can learn from this list of expensive cities:
- Economy truly affect how much a property will cost.
- Historical and cultural relevance shouldn’t be ignored.
- The more tourists, the higher the price of a property will be.
You should definitely visit these cities in your next holiday travel! Look what kind of real estate your money will get you here in the Philippines by visiting our portal!