Rank Country/City Average home resale price, per square meter in 2016 1 Monaco $44,992 2 Hong Kong $42,489 3 Tokyo $31,815 4 London $17,600 5 New York $18,195 6 Shanghai $16,670 7 Paris $12,966 8 Moscow $12,748 9 Singapore $11,113 10 Dubai $6,646 http://www.marketwatch.com/story/this-country-has-the-most-expensive-homes-in-the-world-2017-04-29
I think that s for prime locations in those cities. Prices sound high for Shanghai and Paris if they are average. Besides an actual sqm in Paris (net surface with several restrictions) is significantly larger than a sqm in Shanghai (gross, with a prorata of common parts of the residence for condos i think) Surprised about prices in Monaco, this or a similar report claims prices have increased around 144% in the last few uears, yet 10 years ago already real estate agencies there advertised glamourless apartments for higher prices.
http://mobile.shanghaidaily.com/bus...ais-housing-market-to-be-stable/shdaily.shtml much lower average prices than in the study. 16kup make sense for prime location, even for gross surface, numbers are similar in Shenzhen.
According to the report russians are not the main buyers, i read years back that russians were a little too colourful for Monaco and faced some frictions with local authorities. When going around Monaco it appears very international . Nice place if not cheap and probably too quiet for a lot of folks.
Indeed a horrible place to live. But you should have been there to know that. I live in a far better place for a MUCH smaller price.
I read an article about an American billionaire who said that this problem will soon affect everybody. But he also said that he will in future fear for his life and also for his business. Somebody needs enough income to buy what he is producing and selling. The billionaires will not buy all he is selling now. Pity I don't remember the name of this man, so I cannot google him and his article and give the link. Found one, but not the one I was looking for:http://www.cnbc.com/2015/06/11/billionaire-luxury-chief-says-wealth-gap-is-unfair.html And this one too found on CNBC: Hedge fund billionaire Paul Tudor Jones said the growing gap between the rich and the rest could be "disastrous," and that the drive for corporate profits has "ripped the humanity" from American companies. Speaking at a sold-out TED Talk in Canada this week, the co-chairman of Tudor Investment and a man Forbes says is worth $4.6 billion, said current levels of inequality may be unsustainable. "The gap between the 1 percent and the rest of America, and between the U.S. and the rest of the world, cannot and will not persist," he said. "Now here's a macro forecast that's easy to make, and that's that the gap between the wealthiest and the poorest, it will get closed. History always does it. It typically happens in one of three ways—either through revolution, higher taxes or wars. None of those are on my bucket list."
Don't forget Jean-Baptiste Poquelin's aka Moliere's famous fable "when the fox couldn't rich at the liver, it said it stinks anyway"!