Where in the world are the most expensive properties? Here are the top 10 countries where property value seems to always be going up.
10. Japan – $11,466 per square meter
Properties in Tokyo in Japan are priced at an astounding $11,466 per square meter. Land prices in the city have remained resilient, even as construction of dwellings increased by 2.5 percent to 490,781. Admittedly, much of it is because of reconstruction efforts as a result of the great earthquake that shook the country. Number of condominiums sold during the past year increased by 10.6 percent to 21,039, while the number of detached houses sold increased by 9.5 percent. Even real estate loans increased by 1.5 percent on a year-on-year basis.
9. India – $11,604 per square meter
India’s most prominent city in terms of the real property sector is Mumbai. Price of the properties in the city is $11,604 per square meter. House prices in the city increased by 8.84 percent on a year-on-year basis. Other cities figured even better, with Pune’s property value going up by 33.33 percent, Chennai by 24.6 percent and Jaipur by 21.88 percent. New Delhi’s properties went up by 17.01 percent.
8. France – $15,161 per square meter
If only for the beautiful sights in the French capital of Paris, property values in this country will forever be heading up. As with the rest of the world, the country’s economy is struggling. During times of economic boom, France is almost always one of the countries that property investors will head to. During the housing boom of the mid-2000’s, property values surged by more than 150 percent.
7. United States – $15,284 per square meter
The United States is a melting pot of immigrants from all over the world, and New York best epitomizes this. It is considered by a lot of people as the capital of the world and the city has the highest property prices in the country at $15,284 per square meter. The home price index in the entire country rose by 10.17 percent. About 20 of its major cities registered increase in their property value. Sales price of new homes increased by 14.9 percent. Phoenix had the highest annual price increase at 22.4 percent, San Francisco at 22.2 percent, Las Vegas at 20.6 percent, Atlanta at 19.1 percent and Detroit at 18.6 percent.
6. Russia – $16,509 per square meter
The Russian capital of Moscow commands property values of $16,509 per square meter. The price index for resale apartments increased by 10.39 percent in the entire country. In Moscow, the increase was at 6.17 percent, while in St. Petersburg, property values hiked by 5.31 percent. During the economic boom of the mid-2000’s, real estate actually increased by 362 percent in the primary market and 436 percent in the secondary market.
5. Switzerland – $17,026 per square meter
Geneva in Switzerland has property values of $17,026 per square meter. Rent, demand for property and housing prices increased across the board during the past year. The price of owner-occupied apartments increased by 6.3 percent, while that of rental apartments in old buildings went up by 2.72 percent. The value of single family homes went up by 3.6 percent. The strength of the housing market in the country lies with different factors, including low interest rates, low vacancy rates, increase in immigrants, emergence from recession and the reversal of the investment flow of Swiss nationals back to their own country. Switzerland is also considered a safe investment haven by high net worth individuals from other countries.
4. Singapore – $17,709 per square meter
Property value in Singapore stood at $17,709 per square meter. Residential property price index went up by 2.8 percent, with landed terrace increasing by 5.02 percent and non-landed apartments rising by 5.3 percent. While the central region showed minimal increase in property value, the prices outside the central area went up by 3.8 percent. Demand remains strong because of the country’s record low interest rates. Sales of executive condominiums in the past year exceeded the combined sales figure of the two previous years.
3. Hong Kong – $20,660 per square meter
Property value in Hong Kong is at $20,660 per square meter. House prices have gone up by 23.74 percent. Small sized apartments have registered the highest increases, with those below 40 square meters going up by 27 percent, those between 70 and 100 square meters going up by 25 percent and those between 100 and 160 percent going up by 4 percent. Over a period of three years, prices have increased by 73 percent as the strong foreign demand and low interest rates have been driving up the value of properties.
2. United Kingdom – $32,745 per square meter
London in the United Kingdom commands a property value of $32,745 per square meter. Central London has been booming, with prices increasing by eight percent. Property in the south east went up by five percent, east Angalia by four percent, south west by two percent and the east Midlands by one percent. The most expensive residential boroughs, Kensington and Chelsea, have seen increases of as much as 15.8 percent. The increase is being fueled by the high foreign demand, which accounts for more than half of the properties in the central area of the capital. Residential property transactions in the entire country increased by five percent, with the number of units sold in the last quarter of the year being the most since 2007.
1. Monaco – $53,026 per square meter
Property value in Monaco is definitely the highest at $53,026 per square meter. Prices have increased by more than 10 percent over the past decade. It would seem that the country has been spared from the global downturn in real estate prices. In a 30-month period back in the mid-2000’s, prices increased by as much as 51 percent. British and Russian investors have been coming in, encouraged by the fact that there are no restrictions on foreigners wanting to purchase property in the country.
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