World’s Most Expensive Cities to Buy Property

Property prices are determined by a large number of factors, however, it all pretty much sums up to a combination of supply and demand. In cities where the prices are very high, the supply is short compared to the large demand of people interested in buying. Nonetheless, there are many other factors that have a direct effect in the property price fluctuation, such as:

  • Interest Rates: The higher the rates, the higher the cost of mortgage payments, therefore, a lower demand for buying a property.
  • Income: Higher incomes enable people to spend more on property.
  • Population: A significant growth in the population has a direct impact on the property demand.
  • Mortgages: And increase on mortgage availability makes it easier to borrow large amounts, therefore the high property prices are sustained.

3 Most Expensive cities to buy a Property

According to a study made by WorldAtlas, these are the world’s 3 most expensive cities to buy a property:

Monaco

Monaco Flycam

Monaco is the world’s most expensive city. With 1 million USD, you can buy only 15 sqm in this exclusive paradise. The pricings are expected to keep increasing due to its low tax duties that have enable billionaires around the world to spend millions of dollars in property. A part of being a beautiful city with magnificent sceneries, one of the reasons wealthy foreigners enjoy buying property here is the “Zero” restriction policy that allows them to buy as much as they want without needing to satisfy any special requierements.

Hong Kong

Hong Kong Flycam

With its booming economy and low-interest rates, many wealthy foreigners, especially from Asian Countries, have turned towards Hong Kong as their preferred place for real estate. 1 million USD will only get you 20.6 square meters in this prestigious island.

London

London Flycam

One of the metropolis of the world, London has always attracted foreign billionaires to invest in luxury property. During the past few years, the interests rates in London have been going down while many of UK’s laws have always been considered pro-landlord. All these benefits given by the United Kingdom’s government, plus the large demand for housing, allows billionaires around the world, to invest in high-priced properties. 1 Million USD will only get you 25.20 square meters in this European Metropolis.

Below, the completel list of the World’s 10 Most Expensive Cities to buy property:

For more information about real estate in Vietnam, please contact me directly via email at: daisy@mycasagroup.com. Your trusted Property Agent in Vietnam.

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