10Mostexpensiveluxurypropertymarkets

PublishedBy:GideonJoffe.4/16/13

HongKongishometotheworldsmostexpensiveluxuryrealestatemarket,withtopend
propertiesintheChinesecityfetchingonaverageofUS$11,800persqm,researchfound.
AccordingtorealestateservicesproviderSavillsWorldCitiesReview,valuesintheformerly
Britishterritoryhavesoared113.3percentinthelastsevenyears,despiteastallinginthe
secondhalfoflastyear.
ThereportfoundthatpricesacrossseveralmajorAsiancitieshasskyrocketedinrecentyears
onthebackofabuyingspreebytheworldsmegarich,causingpremiumpropertypricesto
outstripmainstreamrealestatemarkets.
Billionaireactivityhasbeenconcentratedonhighendurbancentresratherthanleisure
propertiesinthesurroundingcountrysideorregionalsunbelts,commentedYolandeBarnes,
headofworldresearchatSavills.Thisreflectsaglobalpreferenceforurbanlocationsasthese
billionairesneedtobelocatedincitieswheretheycandobusiness.
Savillsrankingsweredominatedbynewer,Asianpropertymarkets,withLondonandParisbeing
theonlytwoEuropeancitiestofeatureinthecountdown.NocitiesfromtheMiddleEastmadeit
intothecountdown.

10.Sydney
Pricepersqm:US$9,400
Valuechange20052012:66.4percent
9.Mumbai
Pricepersqm:US$10,500
Valuechange20052012:175.8percent
8.Singapore
Pricepersqm:US$20,000
Valuechange20052012:231.8percent
7.Shanghai
Pricepersqm:US$22,000
Valuechange20052012:33.6percent
6.NewYorkCity
Pricepersqm:US$44,000
Valuechange20052012:47.4percent
5.Moscow
Pricepersqm:US$47,000
Valuechange20052012:138.9percent
4.Paris
Pricepersqm:US$48,000
Valuechange20052012:59.2percent
3.London
Pricepersqm:US$57,000
Valuechange20052012:107percent
2.Tokyo
Pricepersqm:US$82,000
Valuechange20052012:7.9percent
1.HongKong
Pricepersqm:US$11,800
Valuechange20052012:113.3percent