The most expensive real estate markets in the world: Monaco, New York, Hong Kong

Monaco is currently the most expensive real estate market in the world, followed by New York and Hong Kong, according to data from New World Wealth and Henley & Partners, cited by visualcapitalist.com. The source compiled a list of the top 20 most expensive real estate markets in the world, using data from December 2024. The ranking is based on the average price per square meter for a prime apartment of 100-200 sm.

It is worth noting that among the 20 markets in this ranking, six French cities are included.

• Prime real estate - properties located in the most desirable global locations

Prime real estate refers to properties located in the most desirable global locations - whether for lifestyle, investment or prestige. These homes usually have four key characteristics: high value - they are located in top cities around the world or in exclusive resort areas, with premium prices per square meter; luxury-oriented - are luxury properties with top-notch amenities, design and finishes; strategically located - are found in stable, globally connected markets with a strong lifestyle appeal; investment-related - often eligible for residency or citizenship-by-investment programs, offering benefits beyond ownership.

• Monaco - still the global leader in price per square meter

At the top of the list brought to attention is Monaco, where prime real estate prices exceed those in other markets ($38,800/square meter, for a 100-200 sm apartment). The small principality on the French Riviera is a paradise for the ultra-rich thanks to its low taxes, exclusive lifestyle and financial services sector, notes the cited source. With limited land and growing demand, Monaco still has the highest prices globally.

In second place is New York City (USA), consistently ranked as the world's leading financial center ($27,500/sm). Home to billionaires, major investment firms and iconic luxury real estate developments, New York remains a global magnet for capital and prestigious real estate.

Hong Kong is in third place ($26,300/sm), reflecting its continued role as a global financial center. With a limited supply of land, strong investor demand and its strategic location in Asia, Hong Kong's prime real estate market remains one of the most expensive in the world.

Up to tenth place we find: London (United Kingdom, $24,000/sm), Saint-Jean-Cap-Ferrat (France, $21,200/sm), Paris (France, $20,400/sm), Sydney (Australia, $19,500/sm), Palm Beach (USA, $18,000/sm), Miami Beach (USA, $17,800/sm), Los Angeles (USA, $17,500/sm). Places 11-20 look as follows: Singapore ($16,700/sm), Geneva (Switzerland, $15,200/sm), Nice (France, $15,000/sm), Portofino (Italy, $15,000/sm), Cannes (France, $14,800/sm), Tokyo (Japan, $14,700/sm), Lugano (Switzerland, $14,600/sm), Antibes (France, $14,500/sm), Porto Cervo (Italy, $14,500/sm), Eze (France, $14,400/sm).