Most Expensive Cities To Purchase Real Estate In!
I´m sure everybody has heard of rising housing prices but not much compares the prices of real estate in the most expensive parts of the world.
Rising real estate prices opens up for a whole new market of investors trying to make money buying it. The massive income that is formed by the banks in the form of loans adds to its cost and many other factors as well. Today, we´re going to list the Most Expensive Cities To Purchase Real Estate In! (and how many square meters $1M gets you).
The real estate in Geneva is in high demand and those who are interested are prepared to pay for it. If you are looking to purchase a house here you are going to have to pay a lot since the supply isn´t that great. For $1M you will get roughly 34.70 square meters of housing.
The main reason why the real estate in Singapore is so expensive is because of the thing that affects prices of everything- supply and demand. When there is little supply and huge demand, prices skyrocket. for example: the rarer a baseball card is, the more collectors are willing to pay. That´s why you have to be prepared to pay a lot for real estate here. $1M only gives you 32.60 square meters.
London’s real estate market, where average housing prices are up 13.5% year over year, according to the just-released U.K. Land Registry House Price Index. An important reason prices are so high is that there simply is a lack of space to build on. Another factor that affects the real estate prices in London is that more and more people from other countries are moving there, with a possibility of paying the price for housing and therefore competes with the inhabitants of the UK. If you have a budget of $1M in London, you will only get a mere 25.20 square meters of apartment.
2. Hong Kong
Hong Kong´s economy is growing and the demand of housing is greater than ever. That´s the reason Hong kong ends up on the second place of the most expensive cities to purchase real estate in. The prices of real estate are so high that with $1M you´ll only end up with 20.60 square meters.
On the first place among the Most Expensive Cities To Purchase Real Estate In! is Monaco. $1M gets you only 15 square meters of space so make sure you have some savings before buying an apartment here. Expect the prices to rise even more in the future, because the real estate demand are expected to rise even higher in Monaco.
Rank Country Sqm per $1M