In the Principality of Monaco you can only buy 17 square meters of luxury residential area for 1 million dollars (about 920 thousand euros).
For the eighth consecutive year, Monaco is the most expensive city to buy luxury residential real estate. Hong Kong and London rank second and third, respectively. For one million dollars (about 920 thousand euros), they buy 20 square meters in Hong Kong and 21 square meters in London.
The data, now released by the Worx consultancy, shows that although two of the three most expensive cities in the world are in Europe, it is the US that registers the most significant increase in values.
While luxury home values around the world increased an average of 2%, New York leads the ranking of top gainers with an increase of 18.8% year-over-year, followed by Aspen (also in the US). USA) with 16%. In the middle of the table is San Francisco and closing in tenth place is Los Angeles (13%).
The disparity between cities in North America and Europe is very pronounced, whereas previously prices rose an average of 13%, in Europe the average was only 2.5%. The only city that stands out in Europe is Dublin, which registered an increase of 13%.
According to Knight Frank’s Liam Bailey, “The geographic concentration of wealth remains a key driver, with just five cities accounting for 10% of total wealth growth: Singapore, Hong Kong, New York, London and Mumbai over the next few years.” 10 years. .”