NYC Luxury Market Third Most Expensive

Despite recent record-breaking deals and contrary to what many New Yorkers probably think, New York City's luxury real estate is not the most expensive on the planet. It does, however, come in third place (after London and Monaco)...

A recent report on luxury real estate by Knight Frank and Citi Private Bank shows New York's most attractive apartments cost considerably less than comparable properties in London and Monaco.

According to the report, the top positions, based on the average cost of one square meter (= 10.76 sq ft) of luxury apartments in the best neighborhoods were occupied by:

1. London, UK: 36,800 euro /sq m (or $4,633 /sq ft)
2. Monaco, France: 35,000 euro /sq m (or $4,406 /sq ft)
3. New York, USA: 25,600 euro /sq m (or $3,223 /sq ft)
4. Hong Kong, China: 19,700 euro /sq m (or $2,480 /sq ft)
5. Tokyo, Japan: 17,600 euro /sq m (or $2,216 /sq ft)
6. Cannes, France: 15,000 euro /sq m (or $1,888 /sq ft)
7. Saint Tropez, France: 14,900 euro /sq m (or $1,876 /sq ft)
8. Sidney, Australia: 13,100 euro /sq m (or $1,649 /sq ft)
9. Paris, France: 12,600 euro /sq m(or $1,586 /sq ft)
10. Rome, Italy: 12,500 euro /sq m (or $1,574 /sq ft)
11. Moscow, Russia: 12,300 euro /sq m (or $1,548 /sq ft)

Sources and Links

1. A Londres, le mètre carré atteint des sommets (Le Figaro)

Related News Categories

• Trends in the NYC Real Estate Market