Check out the world’s most expensive luxury properties

Check out the world’s most expensive luxury properties

Check out the world’s most expensive luxury properties

Written by News 1st

13 Dec, 2013 | 10:57 am

In the rich man’s world of diversified asset portfolios and international investment opportunities, luxury property in the right market equals hot property.

But where do speculating millionaires and billionaires get the most bang for their buck? Is it in the suave sophistication of New York City, the ornate splendour of London’s townhouses or the ultramodern apartments of central Shanghai? The following list is made using data gleaned from the Knight Frank Wealth Report 2013 that shows the most valuable locations for luxury properties.

Monaco

The picturesque principality on the Mediterranean isn't known as the playground for the rich and famous for nothing. $1 million buys just 16 square meters of luxury property on average in Monaco. That's more expensive than anywhere else on earth according to Knight Frank. To put these measurements in perspective, 16 square meters equals roughly one sixteenth the area of a tennis court.

The picturesque principality on the Mediterranean isn’t known as the playground for the rich and famous for nothing. $1 million buys just 16 square meters of luxury property on average in Monaco. That’s more expensive than anywhere else on earth according to Knight Frank. To put these measurements in perspective, 16 square meters equals roughly one sixteenth the area of a tennis court.

 Hong Kong

A bustling Asian metropolis where space is tight, Hong Kong closely follows Monaco in the house price stakes. $1 million buys 19 square meters of luxury property here on average, making the special administrative region of China the most pricey city in Asia.

A bustling Asian metropolis where space is tight, Hong Kong closely follows Monaco in the house price stakes. $1 million buys 19 square meters of luxury property here on average, making the special administrative region of China the most pricey city in Asia.

London

London

Geneva

Low taxes, beautiful views and an abundance of high-class living space, Geneva ranks fourth in Knight Frank's most valuable cities list. One square meter of property classified as luxury costs between $29,300 and $32,400 (32 sm for every $1 million)

Low taxes, beautiful views and an abundance of high-class living space, Geneva ranks fourth in Knight Frank’s most valuable cities list. One square meter of property classified as luxury costs between $29,300 and $32,400 (32 sm for every $1 million)

Paris

 Paris

Singapore

Singapore

Just like Paris, Singapore averages 38 square meters for every $1 million spent on luxury property.

Moscow

Moscow

New York

New York

It may be home to the big money of Wall Street, but New York lags behind the world’s other financial capitals when it comes to the cost of luxury property. That doesn’t make things cheap though. The average price of a high-class pad in the Big Apple comes in at between $21,800 and $24,100 per square meter. That equates to 44 square meter for every million spent.

Sydney

Sydney

Shangai

There maybe fears of property bubbles and growing class divides, but the country's nouveau riche don't seem to care about splashing the cash in China. Especially in Shanghai where luxury property prices are higher than any other major Chinese city, growing by 10.8% in 2012 alone. One square meter here costs between $19,600 and $21,700) (roughly 48 square meters for every $1 million).

There maybe fears of property bubbles and growing class divides, but the country’s nouveau riche don’t seem to care about splashing the cash in China. Especially in Shanghai where luxury property prices are higher than any other major Chinese city, growing by 10.8% in 2012 alone. One square meter here costs between $19,600 and $21,700) (roughly 48 square meters for every $1 million).

-CNN-

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