Some people might think that New York will hold the number one spot in our list of 10 most expensive cities in the world to buy real estate. New York has surely become a real estate market where only super rich can afford to buy a piece of land. Would you believe a skyrise condo in New York got sold for a whopping 50 million dollars? And it was just a rawspace. But it is still not there at the top as there are other cities in the world where buying real estate is like having a dream come true and that too for the rich people. Buying a place is one thing, but some of these cities are also among the most expensive cities to rent in the world, as well.
For the Richie’Richs’ of the word, New York is like a bargain. According to a new, interesting report New York is as low as a “half priced” thing when it comes to buying real estate in some of the other, richer cities of the world. You would be surprised to know that Monaco remains the most expensive real estate market where a tiny, tony piece of land can cost you millions of dollars. Going into exact numbers, the same report said that it could cost you as much as $1 million to buy mere 160 square feet or 15 square meters of land in Monaco. That is just one bedroom without kitchen or a bathroom – Definitely a place where you can live in your own room and share a bathroom with other ultra-rich people.
Now compare it to New York (which is by no means cheap) you can get a big 430 square feet of land in $1 million. This is the reason why New York is not at number one but somewhere in the middle of our list. There are other more vibrant and beautiful cities that are surely going to surprise you with the price tag they have in the real estate market.
Without telling you more about Monaco and New York, let’s dive in the list of 10 most expensive cities in the world to buy real estate.
10. Shanghai
At number ten we have the famous city of Shanghai. Here it generally costs you around $1 million to buy a piece of land measuring only 46.2 square meters. Surprised? Well, the list is just beginning – please read on…
9. Moscow
The upmarket space is “Hot” in Moscow – it costs around $1 million to buy only 43 square meters of land. Some new and modern apartments in Moscow can even cost you more. So it’s just not the weather that is extreme, property prices in Moscow are extreme as well.
8. Paris
Probably one of the most beautiful cities in the list, Paris is also known for its almost unaffordable prices for real estate. $1 million can only buy you 41.7 square meters of land.
7. Sydney
Going downunder, Australia is home to not only Kangaroos but some of the most expensive real estate market as well. In Sydney $1 million can only get you a land measuring 41.2 square meters.
6. New York
Number six on our list of 10 most expensive cities in the world to buy real estate is New York. This city has always been famous for expensive property and high standard of living. Here $1 million will get you 40.2 square meters only.
5. Geneva
Next on our list is the peaceful Geneva. Here you can only expect to buy land measuring 34.7 square meters with your $1 million.
4. Singapore
It is one of the world’s liveliest cities but the space is tight. With the perfect night life, you can only buy 32.6 square meters of land in Singapore in $1 million.
3. London
Like New York, London has always been known for expensive real estate and ultra high living standards. You can only buy a piece of land measuring 25.2 square meters with $1 million. If you talk about buying a good looking house, it can even cost you more than that.
2. Hong Kong
This might come as a surprise to many but yes, Hong Kong is at number 2 in our list. You have to be super-rich if you are looking to buy a good looking bungalow in Hong Kong as $1 million can only get you 20.6 square feet of land.
1. Monaco
Here comes the most expensive city in the world to buy real estate– Monaco. $1 million can buy you a piece of land measuring only 15 square feet in the city. Some of the more famous localities can cost you even more than that.
