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<\/div>\nPerhaps you\u2019re searching for a lucrative rental apartment; maybe it\u2019s a complete relocation to find that dream home that always feels just out of reach. Whatever you\u2019re looking for, it\u2019s vital to get to grips with the global property markets and have a clear understanding of which are the most expensive.<\/p>\n
After the ongoing uncertainty of the past few years, prime residential markets are now going from strength to strength, with prices broadly outperforming earlier predictions. After Covid-19 sent buyers heading for the countryside with longings for space, seclusion, and privacy being key driving forces behind new property sales, the masses are now back in cosmopolitan hubs \u2013 and price points reflect that. In the first half of 2025, Savills<\/a> reports that average global prime residential capital values grew 0.7 percent, while rents increased 2 percent, signaling that demand from affluent buyers and renters remains robust.<\/p>\n As expected, there are some regions that not even a global pandemic or political unrest can shake. According to a recent report by Savills, Monaco<\/a> remains at the top of the list as the most expensive place to buy property, thanks in no small part to its abundance of wealthy residents.<\/p>\n Find out below which other regions and cities topped Savills\u2019 list of the world\u2019s most expensive property markets<\/a> and the key reasons that buyers flock to them, even in troubled times.<\/p>\n Monaco topping the list of the most expensive property markets in the world should come as no surprise, with the French principality long regarded as a playground for the global elite.<\/p>\n But what exactly is it that makes Monaco\u2019s property market so expensive? Firstly, its size: spread across a minuscule 0.8 sq miles (making it smaller than New York City<\/a>\u2019s Central Park), Monaco is beaten only by the Vatican City in the battle to be crowned the world\u2019s smallest country, putting prime real estate in high demand.<\/p>\n The ultra-exclusive lifestyle afforded by owning property in Monaco is another major contributor to the cost of buying in this coveted destination. The Principality is brimming with fine-dining restaurants and designer boutiques, as well as a number of luxury yachting clubs \u2013 not to mention an extensive sporting calendar. If anywhere on earth has been designed specifically for wealthy individuals, it\u2019s Monaco. The year-round sunshine, wealth-friendly taxes and prime location on the French Riviera don\u2019t damage its immense appeal, either.<\/p>\n Despite a muted price growth, Savills has reported that Hong Kong remains the second most expensive residential property market (and the most expensive city) in the world, with an average prime capital value of $3,720 per sq ft.<\/p>\n The density of population is a key factor that makes Hong Kong so expensive, with over 7.5m people living in under 430 sq miles. And, despite demand, new properties are scarce with the city clinging on to its limited green spaces. Savills notes that political uncertainty and policy factors continue to constrain the market, which has seen modest declines in recent months.<\/p>\n See also: The Best Hotels in Hong Kong<\/a><\/em><\/p>\n New York\u2019s appearance on a list of the most expensive property markets in the world is another one that comes as little surprise. The average prime price is now $2,610 per sq ft, up slightly from earlier figures.<\/p>\n Several factors contribute to the cost of property in New York, most notably the lack of space; with virtually every bit of ground accounted for, the only way to build in the Big Apple is up and air space continues to be highly sought after. Savills also pointed toward rising domestic wealth, border re-openings, and city migration as key driving factors.<\/p>\n Of course, aside from the development intricacies, one of the main reasons why New York\u2019s property market continues to be so expensive is the city\u2019s sheer curb appeal. While Washington, DC<\/a> is the US\u2019s political hub, New York is the home of everything else: from fashion and art to finance and tech, the city that never sleeps remains the place to be.<\/p>\n While the Swiss capital of Zurich<\/a> has its own impressively lucrative property market, it is the lakeside city of Geneva<\/a> that has the world\u2019s fourth most expensive with an average asking price of $2,460 per sq ft (per H1 2025<\/a>). To those in the know, the high property prices in Geneva, and indeed the rest of Switzerland, are a no-brainer. Geneva not only boasts easy access to world-class skiing resorts in the form of the Alps and the Jura mountains but also acts as a worldwide hub for diplomacy and finance.<\/p>\n However, the Swiss government has taken measures to regulate the country\u2019s housing market, with regulations preventing non-residents from buying in areas that aren\u2019t designated \u2018holiday zones.\u2019 Unfortunately, Geneva doesn\u2019t come under this jurisdiction, meaning international buyers will need to fully relocate and obtain the relevant visa to buy property in the city.<\/p>\n See also: Ranked: The World\u2019s Most Expensive Ski Resorts<\/a><\/em><\/p>\n Behind the bright lights of Tokyo\u2019s most recognizable tourist spots and financial districts is an equally prosperous \u2013 and increasingly competitive \u2013 property market. Savills reports prime values at $2,330 per sq ft with one of the fastest capital growth rates globally: 8.8 percent.<\/p>\n Tight supply, strong domestic demand, and renewed international investor interest have all contributed to Tokyo\u2019s competitive pricing. Tokyo\u2019s most expensive residential neighborhoods include Azabu, Omotesando, and Toranomon.<\/p>\n Coming in at eight on Savills’ report of the most expensive property markets in the world is Sydney<\/a>, where prospective buyers can expect to pay an average of $1,990 per sq ft following positive price growth throughout 2021.<\/p>\n Of course, Sydney speaks for itself when it comes to explaining its ever-growing property market. Its oceanfront location, laidback lifestyle, and unrivaled climate make it one of the world\u2019s most desirable locations to live in, with the suburbs of the sprawling city proving to be more in demand than inner-city properties.<\/p>\n See also: Where to Buy Luxury Real Estate in 2026<\/a><\/em><\/p>\n Seoul is now one of the world\u2019s most expensive cities for prime residential property, with an average price of $1,950 per sq ft. Growth remains solid, supported by limited new supply, strong local demand, and a steady inflow of international buyers seeking lifestyle and investment properties.<\/p>\n Shanghai continues to attract wealthy buyers and remains one of the most expensive cities in the world, with prime residential values averaging $1,980 per sq ft.<\/p>\n While transactional volumes have been subdued due to policy tightening and mortgage uncertainty, Shanghai\u2019s standing as a financial and cultural hub preserves its pricing strength.<\/p>\n Although at one point the rise of working from home threatened to undermine London<\/a>\u2019s appeal, the threat failed to truly materialize, with the city currently undergoing a bounce-back. Savills reports average prime values of $1,900 per sq ft, noting a slight softening in some central districts.<\/p>\n London\u2019s cosmopolitan appeal, prime property offerings, strong job market, abundance of culture, and wealth of green spaces continue to support high pricing. The rental market also remains robust, with prime rents rising faster than capital values.<\/p>\nRanked: The most expensive property markets in the world<\/h2>\n
Monaco, Europe — $5,249.56 per sq ft<\/strong><\/h2>\n
![\"monaco](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/monaco-expensive-city-2560x1709.jpg\")
Hong Kong, Asia — $3,720 per sq ft<\/strong><\/h2>\n
![\"hong](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/hong-kong-most-expensive-city-2560x1440.jpg\")
New York, USA — $2,610 per sq ft<\/strong><\/h2>\n
![\"new](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/new-york-city1-2560x1706.jpg\")
Geneva, Switzerland \u2013 $2,460 per sq ft<\/strong><\/h2>\n
![\"geneva](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/geneva-switzerland1-2560x1707.jpg\")
Tokyo, Japan \u2013 $2,330 per sq ft<\/strong><\/h2>\n
![\"tokyo\"](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/tokyo-city1-2560x1707.jpg\")
Sydney, Australia \u2013 $1,990 per sq ft<\/strong><\/h2>\n
![\"sydney](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/sydney1-2560x1705.jpg\")
Seoul, South Korea \u2013 $1,950 per sq ft<\/strong><\/h2>\n
![\"Seoul\"](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/seoul1-2560x1601.jpg\")
Shanghai, China \u2013 $1,980 per sq ft<\/strong><\/h2>\n
![\"shanghai](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/shanghai1-2560x1705.jpg\")
London, UK \u2013 $1,900 per sq ft<\/strong><\/h2>\n
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Singapore \u2013 $1,810 per sq ft<\/strong><\/h2>\n
![\"singapore\"](\"https:\/\/elitetraveler.com\/wp-content\/uploads\/sites\/8\/2023\/09\/singapore-2560x1724.jpg\")