10 Most Expensive Cities for Property in the World

Hong Kong is currently the most expensive city in the world to buy property. According to globalpropertyguide.com, property prices in Hong Kong reach a fantastic US$28,570 per square meter, or approximately Rp406 million per square meter (using an exchange rate of Rp14,210).

London is the second most expensive city for property purchases, reaching US$26,200 per square meter, or approximately Rp373.2 million per square meter. New York is third, with prices at US$17,190 per square meter, or Rp244.3 million.

Tel Aviv is fourth, with property purchase prices at US$17,150 per square meter, or Rp243.7 million per square meter. Geneva occupies fifth place, with prices at US$16,400 per square meter, or Rp234 million per square meter.

The high property prices in these cities are due to high demand and limited supply, causing prices to soar and become unaffordable for many residents.

Top 10 Cities with the Most Expensive Property Purchase Prices in the World:

1. Hong Kong US$28,570 per square meter
2. London US$26,200 per square meter
3. New York US$17,190 per square meter
4. Tel Aviv US$17,150 per square meter
5. Geneva US$16,400 per square meter
6. Tokyo US$16,300 per square meter
7. Paris US$15,900 per square meter
8. Singapore US$14,400 per square meter
9. Vienna US$11,900 per square meter
10. Beijing US$11,800 per square meter

In Hong Kong, the soaring property prices have driven tens of thousands of families to rent small apartments averaging only six square meters. The high property prices in Hong Kong have also spurred creativity; a 2.5-meter diameter concrete pipe has been converted into an apartment for two people.

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