20 Most Expensive Cities to Buy a Home

Christopher Zenios17/12/20193min
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.




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Image Source by The Business Time

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at [email protected] for editorial related questions.

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