Real estate is a great investment opportunity in any corner of the world, but more so when you invest in a city where the prices are already sky-high making the returns that much sweeter!
When it comes to expensive real estate, the city that comes to everyone’s mind is New York (the average cost of real estate is about $34,000 per square meter). Any conversation with builders in Chennai is sure to include the topic too! However, New York isn’t the only city that comes with a heavy price tag. Here are five other cities where real estate is sometimes even more expensive than the Big Apple.
This city is the crème de la crème in the world of realty. Every square metre of the place is crowned with luxury properties. Nestled on the outskirts of France, this city-state is home to the ultra-rich (as the cost of a square metre can go up to $60,000). A house in this city comes with a magnificent view of the Mediterranean Sea, and the best seats in the house for events like the Monaco Grand Prix, and the Monte Carlo tennis tournament.
The spectacular city of Hong Kong is always alive – from the bustling streets during the day to the bright lights that dazzle in the night. Property is also a lucrative commodity in the city. As the largest business hub in Asia, it holds the record for the largest collection of skyscrapers, making it a centre for prime real estate. The average cost of these opulent buildings can go as high as $50,000 per square metre, making the city the most luxurious market for two years running.
A property in this city offers you a place in the financial and cultural capital of the world. A large number of businesses have their bases in London, and the city is a crucible of culture, making property here one of the most sought after. With costs that go up to $40,000 per square metre, a house in this iconic city is highly beneficial. In fact, many of the rich and famous, though they reside elsewhere, purchase houses in this city to maintain a base in the capital.
Singapore has made it into every list for the most expensive cities in terms of real estate for over five years and it is nothing short of excellent. This attractive tourist destination offers only the best – with its quality education and great employment opportunities – bringing in an influx of foreign nationals every year. Housing is of great demand in this city, due to rising population and limited land availability, bringing the cost of real estate to almost $30,000 per square metre.
The ‘Swiss’ label attached to any piece of chocolate promises quality – and that is also what the real estate in this Swiss city offers. Geneva is known as the global hub for diplomacy and banking, thereby driving demand for housing. This classy city has one of the highest costs of living in Europe (its cost of real estate goes as high as $26,000 per square metre) for its successful, cosmopolitan atmosphere and affluent way of living.
The world is constantly expanding and shrinking at the same time. But sometimes, we don’t have to go too far to enjoy the best that life has to offer, in the comfort of our own homes. Luxury homes in Chennai have come a long way from the longstanding flats. With amenities abound, you may just find a gorgeous piece of real estate in the heart of the city, that makes you sit up and feel at home. If you’re looking for luxury homes in Chennai, it’s time to reach out to premiere builders in Chennai today.