1. Monaco – $53,026 per square meter
Property value in Monaco is definitely the highest at $53,026 per square meter. Prices have increased by more than 10 percent over the past decade. It would seem that the country has been spared from the global downturn in real estate prices. In a 30-month period back in the mid-2000’s, prices increased by as much as 51 percent. British and Russian investors have been coming in, encouraged by the fact that there are no restrictions on foreigners wanting to purchase property in the country.
2. United Kingdom – $32,745 per square meter
London in the United Kingdom commands a property value of $32,745 per square meter. Central London has been booming, with prices increasing by eight percent. Property in the south east went up by five percent, east Angalia by four percent, south west by two percent and the east Midlands by one percent. The most expensive residential boroughs, Kensington and Chelsea, have seen increases of as much as 15.8 percent. The increase is being fueled by the high foreign demand, which accounts for more than half of the properties in the central area of the capital. Residential property transactions in the entire country increased by five percent, with the number of units sold in the last quarter of the year being the most since 2007.
3. Hong Kong – $20,660 per square meter
Property value in Hong Kong is at $20,660 per square meter. House prices have gone up by 23.74 percent. Small sized apartments have registered the highest increases, with those below 40 square meters going up by 27 percent, those between 70 and 100 square meters going up by 25 percent and those between 100 and 160 percent going up by 4 percent. Over a period of three years, prices have increased by 73 percent as the strong foreign demand and low interest rates have been driving up the value of properties.
4. Singapore – $17,709 per square meter
Property value in Singapore stood at $17,709 per square meter. Residential property price index went up by 2.8 percent, with landed terrace increasing by 5.02 percent and non-landed apartments rising by 5.3 percent. While the central region showed minimal increase in property value, the prices outside the central area went up by 3.8 percent. Demand remains strong because of the country’s record low interest rates. Sales of executive condominiums in the past year exceeded the combined sales figure of the two previous years.
5. Switzerland – $17,026 per square meter
Geneva in Switzerland has property values of $17,026 per square meter. Rent, demand for property and housing prices increased across the board during the past year. The price of owner-occupied apartments increased by 6.3 percent, while that of rental apartments in old buildings went up by 2.72 percent. The value of single family homes went up by 3.6 percent. The strength of the housing market in the country lies with different factors, including low interest rates, low vacancy rates, increase in immigrants, emergence from recession and the reversal of the investment flow of Swiss nationals back to their own country. Switzerland is also considered a safe investment haven by high net worth individuals from other countries.
