Hong Kong has stored the crown as the costliest metropolis to purchase property in, whereas two different Chinese cities additionally made the high 5 list, in accordance with new analysis that covers 35 cities round the globe.
The common worth of property in the southeastern Chinese metropolis, notorious for its unaffordability, is greater than $1.2 million, which is 5.5 p.c extra than final 12 months’s price, actual property guide CBRE stated in the fifth version of its Global Living report. Meanwhile, the worth of shopping for an common prime property stands at practically $6.9 million, making it the champion for luxurious housing as effectively.
Last 12 months’s hotspots managed to maintain their positions in the ranking, with Singapore coming in second, adopted by Shanghai and Vancouver, with the common residence costing between $815,000 and $874,000.
Shenzhen, a brand new addition to the report, took the fifth place and turned the third Chinese metropolis in the high 5. The metropolis is the tech capital of China and is positioned simply 30 kilometers from the world’s most costly city middle. It hosts the headquarters of many worldwide and Chinese companies, together with Huawei, ZTE and Tencent.
Los Angeles, New York, London, Beijing, and Paris additionally made the high ten list of the world’s costliest cities.
However, Moscow turned the solely non-Chinese metropolis to make the high 5 list of priciest luxurious property markets. It took third place with the common worth of round $2.four million, behind solely Hong Kong and Shanghai and adopted by Beijing and Shenzhen.