Are you house hunting or looking for an investment property? How much are property prices in other countries? Chances are you haven’t seen the most expensive ones yet.
According to this investment analysis done by Global Property Guide, the top 10 most expensive places to buy properties in 2009 are:
Most expensive property markets
(based on 120 sq. m. apartment in city-centre )
|RANK||COUNTRY||CITY/REGION||AVE PRICE (US$/sq. m.)|
|5||Hong Kong||Hong Kong|
1. Monte Carlo $US47,578 per square metre.
Tax haven for the rich and famous but not enough land to go around.
2. Moscow $US20,853 per square metre.
The communism pendulum has swung back the other way with a vengence on the back of high oil prices and economic growth.
3. London $US20,756 per square metre.
Everyone wants to be in the capital of the British Empire.
4. Tokyo $US17,998 per square metre.
Once again, the capitalism capital of Japan with not much land and too much business. My barber from Tokyo said it’s too streesful to live in that place.
5. Hong Kong $US16,125 per square metre.
Hong Kong is China’s gateway to the Western world and is a mix of ex-pats and new Chinese millionaires.
6. New York $US14,898 per square metre.
This is where New York Stock Exchange (NYSE) and wall street is, what do you expect?
8. Singapore $US9,701 per square metre.
Low tax. Good job opportunites and competitive job market. Smart government plus the busiest harbor in whole south east asia.
You can find the complete list here.