The Most Expensive Property Investment Cities in the World 2015
Investors and virtually everyone else are highly interested in the most expensive cities in the world of real estate investment. Those with money to spend or invest are always in search of cities that will give the most value. Investing in a city that is volatile economically, politically and even environmentally is not in any investor’s menu and that is why the Wealth Report by Knight Frank is vital as it reveals world’s top ten most expensive cities for investors in luxury property for 2015.
Los Angeles, United States
In reverse order, Los Angeles, a city in the United States is the tenth in the ranking and considered expensive for a number of factors, chief among them being that just a property of just 57 square metres will cost you a $1 million.
The ninth in the log is Paris, a city that has always been associated with romance and rich cultural history. In Paris, 50 square metres of property will cost you $1 million.
Obviously China has been the sleeping giant for decades, but now the country’s huge population, wealth and potential are paying off. As the country continues to invest within and without China, the city of Shanghai as in many other cities across China has seen an increase in real estate investment. This is what has pushed the price of 48 square meters in Shanghai to go for $1 million.
As one of the world’s favourite cities Sydney has always been significant in the world market. This is why 41 square meters of the city’s residential area will cost you a $ 1 million.
Every time the history of the world is written Geneva will always play a significant part, especially due to its level-headedness whether its immediate neighbours are burning or not. $1 million will buy you 39 square metres of luxury property in this famous Swiss city.
This is a part of the world that has always been attracting a lot of foreign investment over the years. Perhaps this is the reason why 39 square metres of real estate goes for $1 million.
New York, US
Across the United States luxury real estate has always been going up. This is why a $1 million will buy you only 34 square miles of prime property space in the Big Apple.
Without a doubt, property, both residential and commercial in the British capital has always been up, particularly in the last 3 or so years that have seen an increase in foreign investment in the city. Luxury apartments in prime areas of London begin at £8.5-£15.6 million. For $1 million, you can only buy 21 square metres of London’s prime property.
In the city of Hong Kong property has also been expensive and things are getting even thicker as investors continue paying attention to this popular city. For $1 million you can get 20 square meters only of real estate.
The French city of Monaco is the most expensive in terms of luxury floor space. $1 million will not get you much in terms of real estate but only 17 square metres of luxury floor space.