You don’t need us to tell you that life in cities across the planet is getting more and more expensive. Henley & Partners, a wealth migration firm, annually releases a report to tell us exactly which cities are the spenniest of all – and honestly, not a single one comes as a shock.
The list is calculated based on the average square metre price of a ‘prime’ 100- to 200-square-metre apartment, and topping the list? It’s Monaco, where apartments of that size often exceed $38,800 per square metre.
It’s not such a coincidence then that it’s the top-ranked city on a wealth per capita basis, and over 40 percent of the nation’s residents are millionaires: the highest proportion of any city globally.
In second place was New York, where the price of a prime apartment averages at $27,500 per square metre. The Big Apple also topped the ranks for the wealthiest city in the world, given it’s home to around 384,500 millionaires.
Hong Kong, London and Saint-Jean-Cap-Ferrat round out the top five, but interestingly, France actually has the most cities (or towns) on the full list of the world’s most expensive cities – Paris, Saint-Jean-Cap-Ferrat, Nice, Cannes, Antibes, and Èze are all included in the top 20 – and the US has the second most.
You can have a look at the full report here, or check out the list of the top 10 below.
These are the world’s 10 most expensive cities
- Monaco
- New York
- Hong Kong
- London
- Saint-Jean-Cap-Ferrat
- Paris
- Sydney
- Palm Beach
- Miami Beach
- Los Angeles
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