20 Most Expensive Cities to Buy a Home

Shelley HumphreysShelley Humphreys17/12/20193min
Those who are looking to buy real estate may wonder what the most expensive city is to buy a property.

A recent report from CBRE, a real estate company, analysed property markets across 35 cities and revealed the following.

Asia dominated the majority of the list with the most expensive market. Hong Kong held onto its position as the most expensive city to buy a home for the 5th year in a row, following closely is Singapore 2nd and Shanghai 3rd.

The report revealed that the average price for a home in Hong Kong in 2019 is roughly $1.2 million. These prices have been reached due to high demand and short supply of houses.

Moving away from Asia, Vancouver ranked 4th with the average home costing $815,322. In Europe, London was named the most expensive city in Europe to buy a home with an average price of $646,973 in 2019.

Here are the 10 most expensive cities:

  1. Hong Kong
  2. Singapore
  3. Shanghai
  4. Vancouver
  5. Shenzhen
  6. Los Angeles
  7. New York
  8. London
  9. Beijing
  10. Paris
  11. Cape Town
  12. Toronto
  13. Sydney
  14. Jeddah
  15. Melbourne
  16. Dublin
  17. Riyadh
  18. Dubai
  19. Abu Dhabi
  20. Miami

When analysing the rental market for the cities, the report revealed that New York has the highest average monthly cost of $2,844.

Adu Dhabi and Hong Kong followed closely with the average monthly rental cost set at $2,700.

 

 

 

Disclaimer: HighWorthCitizen.com is not intended to provide legal, tax or investment advice, and nothing on HighWorthCitizen.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by HighWorthCitizen.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

 

Image Source by The Business Time

Shelley Humphreys

Shelley Humphreys

Shelley started her education in Legal Studies followed by employment in a UK energy Firm. In recent years attention has been turned to content writing specifically on the subjects of investment and real estate. Alongside this she has also worked with UK based Travel Agency, this diverse background makes her well equipped to write on a range of subjects. Contact Shelley at +357-22029786 ext: 6126 or by email at shelley@highworthcitizen.com for editorial related questions.



About us

High Worth Citizen is all about delivering the latest business news on finance, investment, real estate and wealth. Our readers are the rich and powerful, their associates and business partners, the global High Net Worth Individuals.


CONTACT US