Monaco is currently the most expensive real estate market in the world, followed by Cap Ferrat in France and London in the United Kingdom.
Here are the top 10 most expensive real estate markets in the world.
Average house price: 5,408 USD/ft2
Monaco is a country – a sovereign city in Western Europe. With an area of only 1.95 km2 and a population of 36,371 people, it is the second smallest and most densely populated country in the world. The stunning scenery and lavish entertainment facilities have attracted a large number of wealthy people, making it the most expensive real estate in the world.
2. Cap Ferrat, France
Average housing price: 4,800 USD/ft2
Cap Ferrat is a coastal village in southeastern France, on the peninsula jutting into the Mediterranean between Nice and Monaco. The beautiful landscape of this place has attracted many millionaires and celebrities to buy the resorts. Currently Cap Ferrat owns a number of beautiful villas.
3. London, United Kingdom
Average house price: 4,534 USD/ft2
One Hyde Park is a large residential complex located in Knightbridge, London. Born and prospered in the middle of the 17th century, this area has long been considered a fashion landmark of London. One Hyde Park is the UK’s most expensive residential area, with 86 real estate sites starting at £20 million ($32.05 million).
4. Courchevel 1850, France
Average home price: 4,081 USD/ft2
Courchevel is the name of a world-class ski resort located in Saint-Bon-Tarentaise in the French Alps. This is part of Les Trois Vallees – the world’s largest linked ski area. Courchevel 1850 is named after the height of the sea in meters of this area. This is the highest and most famous place of the resort which is loved by many rich people.
5. St. Moritz, Switzerland
Average house price: 3,951 USD/ft2
St. Moritz is located in the Engadine Valley of Switzerland. It was the host city of the 1928 and 1948 Winter Olympics and still has great ski resorts today. It has a favorable location with more than 300 sunny days a year. It is these factors that make real estate prices on the streets of St. Moritz soaring.
6. Gstaad, Switzerland
Average house price: 3,701 USD/ft2
Gstaad is a German-speaking village of Bern Canton in southwestern Switzerland. Located in the Alps, Gstaad is known as a major ski resort and is a popular destination for the wealthy upper class.
7. St. Tropez, France
Average house price: 3,600 USD/ft2
St Tropez, a luxury town, is located in the French Riviera. The favorable Mediterranean weather, the picturesque views and the romantic atmosphere make it an ideal destination for summer vacations. This is considered the paradise of the rich.
8. Geneva, Switzerland
Average house price: 2,959 USD/ft2
The current housing supply-demand ratio of Geneva is about 1:5. This is not a big city in Switzerland and in the central area do not allow any constructions in excess of 8 floors. In addition, a growing population has contributed to the rise in housing prices in Geneva.
9. Hong Kong
Average house price: 2,625 USD/ft2
According to a survey by Demographia International, a US-based consulting firm, real estate prices in Hong Kong are 11.4 times higher than the average annual household income. Nearly half of Hong Kong’s population lives in government-subsidized housing. For many people, the ability to own private home is out of reach.