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World's Most Expensive Real Estate Markets

It still amazes me that homes and condos in my area sell for as much as $1200 per square foot. That was unheard of in Waukesha Wisconsin where I spent the first 25 years of my life. Then I came across this article about expensive real estate...$6000 per square foot! Maybe this is where more of our big cities are headed. 

London - $6,191 per square foot.

Monaco - $5,888 per square foot. 

St. Jean Cap Ferrat (France) - $5,853 per square foot

Courchevel (France) - $4,710 per square foot

Hong Kong - $4,507 per square foot

Manhattan - $4,320 per square foot

Cortina (Italy) - $3,028 per square foot

Portofino (Italy) - $2,692 per square foot

Singapore - $2,423 per square foot

Tokyo - $2,334 per square foot

Let's put this into perspective. Here's what $1.5 million dollars will get you in each of these:

London - 242 square foot studio

Monaco - 254 square foot studio

St. Jean Cap Ferrat (France) - 255 square foot studio

Courchevel (France) - 318 square foot studio

Hong Kong - 332 square foot studio

Manhattan - 347 square foot studio

Cortina (Italy) - 495 square foot studio

Portofino (Italy) - 557 square foot 1 bed

Singapore - 619 square foot 1 bed

Tokyo - 642 square foot 1 bed

 

 

 

Pam Joffe
Solaris Realty - Tampa, FL

Good afternoon Tim - Those are some high prices, I am glad I don't live there, I don't know how people can afford to live there.

Jun 05, 2008 06:52 AM
Es r
CSR - Huntington, TX

Shoot, and here I was thinking about taking up residence in St. Jean Cap Ferrat, near Bono and Brad Pitt. I guess I have to save a little more. Depressing

Jun 05, 2008 06:54 AM
Tim Hoffmann & Laurie Nadeau Nationwide
Park City, UT

Pam - I agree, its hard to grasp those prices

Christian - I think I'll save up too so I can buy a closet in Monaco

Jun 05, 2008 07:12 AM
Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Tim

The price of Real Estate just goes up; hope all is well.

Sincerely

Tom Braatz

Jun 05, 2008 08:26 AM
Tim Hoffmann & Laurie Nadeau Nationwide
Park City, UT

Tom - I agree that's why I always think it's funny when people ask me to find them a home that will have some appreciation over the next 5-7 years.

Jun 05, 2008 08:50 AM
Jason & Deanna
Breckenridge, CO

Tim, I have a buyer from London purchasing a 1.5 Million Dollar ski in / out townhome and he thinks it is a steal. It all depends on perception. A person from Arkansas (my home state) might think our prices here are ridiculous.

Jun 06, 2008 08:53 AM
Anonymous
just-to-note

Please don't forget that the original article refers to "Luxury Real Estate".  The description of Singapore's "$2423 /sq foot" price getting you a 1-bedrm 619 sqft apt would be under the highest "luxury" circumstances -affordable maybe to the top 5% of the population only.  Average psf for apt housting throughout Singapore, minus the main city area, would range from $120 psf to $1k psf. Comparatively, rental and ownership is still much more affordable than in the large expensive US cities. 

Sep 28, 2008 02:41 PM
#7
Tanya Venable
Orlando, FL
SEO, Mobile SEO, and Internet Marketing Consultant

Wow, that it is amazing when you put it in that perspective Tim. I am glad we still have places that pretty reasonable.

Oct 02, 2008 02:37 AM
Richard Ives
Chicago, IL

Great post Tim.  Welcome to the Real Estate Professionals group.  We are glad to have you here.

Oct 02, 2008 03:20 AM
June Stark
Elite Realty-Luxury Homes & Condos On & Off the Strip - Las Vegas, NV
Las Vegas Condos & Luxury Homes Expert

Interesting post.  Makes our price per square ft. here in Las Vegas high rises look like bargains!

Oct 04, 2008 11:11 AM
Leo Vinteler
Stout Associates Realtors - Wyomissing, PA
Exqusite Service

I visited MONACO and let me tell you, it is worth every penny. These kind of places are not for the regular Joe SIXPACK(Palin), they are for the elite of the world. I would buy a place there in a sec, if I had the money...

Oct 09, 2008 04:37 AM