For many, living in luxury seems like a dream. And for most, dreaming is the closest we’ll come to coughing up millions for premier real estate. But for the fortunate few within a tax bracket exclusive enough to necessitate learning basic Swiss, buying into the world’s priciest real estate markets might be just another daily expense. Whether you spend lunch break imagining yourself lounging the nights away atop a cushy Manhattan balcony, or are actually looking to buy, here’s how much it costs (on average) for property in the world’s most expensive areas, according to London real estate firm Knight Frank’s Wealth Report.
#5 – Tokyo, Japan
Maybe you’re a fan of all things Japan. You’ve saved a bit of cash and now, you’re looking for a flat in the city from which Japanese culture flows like fine sake. With the taste of sashimi to come watering your mouth, you steel yourself, ready for the apartment hunt. But before you act, be sure you’re familiar with the fact that for each square meter of Tokyo real estate, you’ll pay an average of $16,322.
#4 – New York City, US
Ranked at the top of Knight Frank’s list for factors like quality of life, economic activity, influence and political sway, the lifestyle of the New York socialite is craved by many, to say the least. The sheer amount of people clamoring for a space in Manhattan is truly impressive; even more striking, however, is what it costs to actually live there. Prospective buyers will dole out an average of $17,191 per square meter.
#3 – Hong Kong
Cloaked in a breathtaking countryside, and boasting tax-friendly economic policies, a high standard of living, and one of the lowest crime rates in the world, Hong Kong has long captivated millions. Sadly, taking up residence in the multicultural mecca doesn’t come anywhere close to cheap, with rental space averaging $25,551 per square meter.
#2 – London, UK
Few cities are as fixed in the global psyche as London: home of such marvels as Big Ben, The London Eye, and fish and chips, as well as Buckingham Palace and the irregular hats of those who guard it. Consistently tied with New York city in quality of life and other desirability metrics, London living also ranks among the world’s priciest cities. Expect to pay an average of $34,531 for each square foot of real estate.
#1 – Monaco
At $60,114 per square meter, property in Monaco is the most expensive by far. The tiny state has also earned a reputation as a tax haven; celebrities, magnates, and those with a similar account balance take advantage of Monaco’s policy of non-taxes. Also enticing to the luxury-inclined is the city’s elegant architecture; Monaco is dotted with opulent nightclubs and restaurants, as well as an ultra-fancy casino complex and opera house.