Some of the most expensive cities in the world have a staggering population that one will wonder, is it so pricey? It depends on what one thinks is costly. However, surely there are some luxuries present in these particular cities that are unavailable to the simpletons of small towns.
Most of the population spends an abnormal amount of time running after the things that give them comfort, but here, we will talks about luxury, which is many steps ahead of comfort. It is not exactly surprising to find that there are numerous cities in the world where luxury is the currency and people who buy a home there are incredibly wealthy.
Be it for comfort or just to show off wealth, one will find these cities are the most expensive to afford a house. Let us learn about them in the next section:
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Top 10 most expensive cities to buy a home
There is a famous saying in the real estate business that if one is planning on buying a house, only three things matter significantly: location, location, and location. Due to the fluctuating market behavior, only location remains the constant factor. The value of the property is determined more by its position than by anything else, and the city is the most precious position that holds when it comes to location.
1. Hong Kong
Hong Kong is one of the world’s most developed and advanced cities. Its new-age buildings, skyscrapers, and booming economy are just some of the many factors that make it so desirable to live in. However, as great as this city sounds, it is not cheap; it is one of the most expensive cities in which to buy a property. It costs about 1,235,220 dollars to own a house in Hong Kong.
If one wants to buy a property in Singapore, they should be able to afford to pay 874,372 dollars. Although geographically small, Singapore is one of the most urbanized cities in the world. After gaining independence in 1965, Singapore has transformed itself into a teeming hub of urban folk.
Buying a house in his city would cost approximately 872,555 dollars. Shanghai is one of the most beautiful and expensive cities in China and the whole world. The city is thriving with a booming economy and is the world’s biggest financial center.
Vancouver is a city in Canada that is known for its flamboyant, diverse, and urban lifestyle. The standard this city has set for the quality of life is extreme. To afford a house in Vancouver, one needs to have at least 815,322 dollars as capital. In addition to being the most diverse, the city maintains a highly immaculate environment and possesses some of the most magnanimous natural places.
Shenzhen is not the most well-known of the cities in the world, but it is one of the most expensive of the lot. Planning to buy a house there? 680,282 dollars is all it takes to own a beautiful property. The city of Shenzhen sits on the upper side of the popular Hong Kong. The city possesses at least 20 parks, and with the tech industry booming, Shenzhen is growing to be one of the most advanced cities in the world.
6. Los Angeles
Los Angeles is also known popularly as the abode of Hollywood. Countless celebrities and wealthy folks dwell in the heart of the city. The climate is extremely mellow, and with its Mediterranean atmosphere, delicious food, and amazing culture, it is an ideal city to settle in. This second-largest city in America offers amazing houses with a price of just 679,220 dollars.
7. New York
Everybody knows about the city where the Statue of Liberty resides. New York is the teeming hub of the most diverse people ever found in the world. The town is popular for its nightlife, party culture, skyscrapers, and, properties. New York is one of the most expensive cities for real estate; it would cost around 674,500 dollars to afford a home.
London belongs to the category of just one of two cities, which was garnered the status of Alpha++. It is the largest city in Europe, the city being a financial center. The city is also diverse and rich in culture. Its modernity, mixed with ancient elements, makes London one of the most desirable and expensive cities in which to reside. To get a home for oneself, the cost would come around 646, 973 dollars.
The capital city of China, Beijing, being one of the most populated cities, has a rich cultural ecosystem. The city’s advanced development has made it into the list of the top 10 most expensive cities to buy a home, and the present cost is around 629, 276 dollars. It was the initiator of the country’s economy, technology, and education. Beijing is one of the oldest cities in the world; even before globalization, the city served as the cultural hub of the Chinese heritage.
Paris, the most enchanting city in the world, is also, well, that’s right, the most expensive. If one is planning to buy their dream house, it would cost somewhere around 624,299 dollars. The city of Paris is known for its beautiful architecture, diverse cuisine, and aesthetic scenery. It also falls under the list of the most visited cities globally.
Read more: The 10 richest countries in the Middle East