Top 10 Countries with the Most Expensive Real Estate in 2022

The real estate market has always been associated with stability and financial security. In times of economic crisis, the interest in real estate investments tends to increase, as people seek a sense of stability amidst uncertainty. While everyone has their preferences and financial capabilities when it comes to choosing a location, there are certain countries where the value of square meters surpasses others by significant margins.

Monaco, Monte Carlo

Undoubtedly, the Principality of Monaco leads the global real estate market. The combination of a small area with a high population density contributes to the sky-high prices of housing in this luxurious destination. Monaco is home to a large number of multimillionaires and titled individuals, and purchasing a house or apartment here is often seen as a pathway to obtaining a residence permit.

The price for 1 square meter in the city center is a staggering $102,700, while outside the center, it's valued at $71,900. The monthly rent for a 1-bedroom apartment in the center and outside is $6,500 and $5,500, respectively.

Pros of buying property in Monaco:

1. Favorable climate and natural conditions;
2. Active construction market due to constant demand;
3. Almost all real estate belongs to the top categories;
4. Premium architecture and entertainment industry, offering an elite lifestyle;
5. Residents enjoy exemptions from most taxes;
6. Highest standard of living and security;
7. Reliable banking system;
8. Guaranteed political stability.

Cons:

1. The principality can be overcrowded during the tourist season;
2. Prices tend to soar during exhibition, cultural, and sporting events;
3. Paperwork processes are characterized by excessive bureaucracy.

Monaco, Monte Carlo

Hong Kong

As the most developed part of China, Hong Kong stands as a global trade and financial center, serving as the largest transport hub in Asia. Due to limited urban development area, the population density in Hong Kong is exceptionally high. Most apartments are found in modern residential complexes, while older properties lack consumer infrastructure. The demand for housing in this metropolis continues to rise, driven by a constant influx of people from all over the world.

The price for 1 square meter in the city center is $31,900, while outside the center, it's valued at $20,000. The monthly rent for a 1-bedroom apartment in the center and outside is $2,200 and $1,600, respectively.

Pros of buying property in Hong Kong:

1. Low unemployment rate and abundant career opportunities;
2. High salaries and a favorable tax policy;
3. Harmonious coexistence of individuals from various cultures;
4. Efficient urban transport system;
5. Developed trading network and entertainment industry;
6. Accessible and beautiful natural surroundings.

Cons:

1. High cost of living, including real estate expenses;
2. Overcrowding in the city;
3. Unfavorable climate: high humidity in summer and discomfort in winter;
4. High pollution levels.

Hong Kong

South Korea, Seoul

South Korea is renowned for its technological advancements and superbly developed infrastructure. With stable economic growth and continuous influx of investments, Seoul's real estate market is considered a profitable and promising investment opportunity. The most sought-after properties are modern apartments in high-rise buildings designed with smart home features, and their prices continue to rise.

The price for 1 square meter of an apartment in the city center is $22,350, whereas outside the center, it's valued at $10,900. The monthly rent for a 1-bedroom apartment in the center and outside is $800 and $550, respectively.

Pros of buying property in Seoul:

1. High level of safety;
2. Excellent conditions for business and entrepreneurship;
3. Well-organized public spaces;
4. Convenient service sector and transportation opportunities for residents;
5. Quality education and active social life;
6. Emphasis on ecology and a well-maintained city.

Cons:

1. Difficulty in renting housing due to high collateral value;
2. Seoul is among the top ten most expensive cities in the world;
3. Numerous electronic queues for various services and exams;
4. Unfavorable climate, characterized by hot and humid summers and cold winters.

South Korea, Seoul

Singapore

Singapore is often referred to as a closed club for smart and successful individuals. It is considered one of the best countries for business and investment, with a competitive economy and long-term political stability. As a result, many foreign companies, high-class professionals, and talented individuals are drawn to Singapore. Given its small size, the high demand and prices of real estate in the country are not surprising.

The price for 1 square meter in the city center is $19,800, while outside the center, it's valued at $9,300. The monthly rent for a 1-bedroom apartment in the center and outside is $2,250 and $1,600, respectively.

Pros of buying property in Singapore:

1. Low taxes for individuals and corporations;
2. High standard of living, often referred to as the "Asian Monaco";
3. World-leading transport infrastructure and technological readiness;
4. Quality education and training opportunities;
5. Well-planned city layout, cleanliness, and beautiful natural surroundings;
6. High level of security and law-abiding population;
7. Advanced healthcare system;
8. Multicultural and welcoming society.

Cons:

1. High cost of living;
2. Expensive cars;
3. Challenging process to obtain a residence permit due to strict migration policies;
4. No residency program through real estate investment;
5. Strict rules of behavior in public places and high fines.

Singapore

Switzerland, Zurich

Switzerland is synonymous with reliability and precision. The country's strong economy and developed industrial and financial sectors make it an ideal destination for foreign investments, including in real estate. However, not all properties in Switzerland are available for purchase by foreign citizens. The most favorable sales policies can be found in Geneva, Zurich, and the resorts of Lake Geneva. The tax burden in Switzerland is relatively humane compared to other European countries, although there are significant differences between cantons.

The price for 1 square meter in the city center is $17,000, while outside the center, it's valued at $10,200. The monthly rent for a 1-bedroom apartment in the center and outside is $2,000 and $1,500, respectively.

Pros of buying property in Switzerland:

1. Opportunity to participate in migration programs and obtain a residence permit;
2. Reliable and excellent banking system;
3. Developed industry with a focus on high technology;
4. One of the highest salary levels worldwide;
5. High security standards and quality education at universities;
6. Well-developed infrastructure and convenient public transportation;
7. Magnificent nature, emphasis on ecology, and high-quality food;
8. Neutral status of the state.

Cons:

1. High cost of living;
2. Strict regulations for renting housing;
3. Challenging job search for applicants without EU citizenship;
4. Minimum 10 years of legal residency required to obtain citizenship;
5. Strictly regulated lifestyle that may not suit everyone.

Switzerland, Zurich

Great Britain, London

Since the UK's departure from the European Union, the real estate market in London has shown steady growth. The strong and diverse economy of the country, along with rich historical, cultural, and sporting traditions, continues to attract professionals and expats from all over the world. London is also one of the top three most visited cities globally, further driving the demand for property rentals and sales.

The price for 1 square meter when buying an apartment in the city center is $15,900, while outside the center, it's valued at $8,100. The monthly rent for a 1-bedroom apartment in the center and outside is $2,200 and $1,600, respectively.

Pros of buying property in London:

1. Prestigious and comprehensive education opportunities;
2. High standard of living and salaries;
3. Progressive taxation system;
4. Support programs for promising professionals;
5. Well-developed infrastructure and convenient transportation;
6. Stunning architecture;
7. Quality healthcare.

Cons:

1. High cost of living;
2. Significant investment required to obtain official status;
3. Expensive tuition fees for certain specialties at universities;
4. Safety concerns in certain areas;
5. Some individuals may not appreciate British cuisine and the local weather.

Great Britain, London

Israel, Tel Aviv - Yafo

Israel stands as the most economically developed country in the Middle East. The focus on high technology, a reliable banking system, and comprehensive social support contribute to the stability of the country's economy, with real estate playing a significant role. Israel regulates not only taxation but also pricing in the housing sector. Particularly, Tel Aviv experiences high real estate prices, especially in the budget segment due to an increased influx of repatriates from Russia and Ukraine.

The price for 1 square meter in the city center is $15,600, while outside the center, it's valued at $10,600. The monthly rent for a 1-bedroom apartment in the center and outside is $1,800 and $1,400, respectively.

Pros of buying property in Tel Aviv:

1. Real estate rights for foreigners are protected equally to those of Israeli citizens;
2. High standard of living and internal security;
3. Relatively easy job opportunities;
4. Decent wages, even for unskilled labor;
5. Numerous government programs to support migrants;
6. Democratic way of life.

Cons:

1. High probability of armed conflict with neighboring countries;
2. High cost of living in Tel Aviv;
3. Local drivers' peculiar driving style;
4. Street cleanliness issues and Internet problems in some areas;
5. Hot climate.

Israel, Tel Aviv - Yafo

USA, New York

Often referred to as the capital of the world, New York is the birthplace of Western civilization and the hub of global trends and ambitions. As a global center for business and finance, New York attracts millions of professionals from various fields, making it the most multicultural metropolis. The demand for real estate in the city has been on the rise, with property prices increasing steadily since the end of the lockdown in 2021. However, given the current economic situation in the United States, housing prices are gradually declining.

The price for 1 square meter in the city center is $15,400, while outside the center, it's valued at $9,200. The monthly rent for a 1-bedroom apartment in the center and outside is $3,900 and $2,300, respectively.

Pros of buying property in New York:

1. High wages for skilled workers;
2. Opportunity to live in one of the most renowned cities worldwide;
3. Modern infrastructure and convenient public transportation;
4. A wide selection of entertainment and leisure opportunities;
5. High-quality healthcare and education;
6. Relatively low crime rate;
7. Liberal attitude towards migrants.

Cons:

1. Owning real estate in the United States does not grant citizenship or a residence permit;
2. Safety concerns in certain areas of New York;
3. Overcrowding, long queues, and a fast-paced lifestyle;
4. Cleanliness issues with city streets.

USA, New York

France, Paris

France claimed the title of the most visited country by tourists in 2021. The country is not only a cultural, scientific, and gastronomic center but also houses the headquarters of hundreds of leading global companies. The architectural beauty of Paris is enviable by any capital city, and residential real estate is consistently in high demand, with prices gradually increasing year after year. Considering the influx of "conquerors" from all over the world, apartments in Paris can be a reliable means of profitable investment. Renting out properties in the city is a thriving business. Foreign citizens face no restrictions when purchasing various types of real estate.

The price for 1 square meter when buying an apartment in the city center is $12,300, while outside the center, it's valued at $9,200. The monthly rent for a 1-bedroom apartment in the center and outside is $1,300 and $950, respectively.

Pros of buying property in Paris:

1. Ownership of a house or apartment opens the path to obtaining a residence permit and citizenship;
2. High living standards;
3. Effective state social support;
4. Progressive education system;
5. Excellent transportation hub;
6. Comfortable climate and diverse natural areas;
7. Eco-friendly environment and delicious food.

Cons:

1. Administrative red tape, requiring extensive information for issue resolution;
2. High taxes, including unique ones like "pool taxes";
3. Limited job vacancies for foreigners;
4. High cost of living;
5. Areas with higher crime rates.

France, Paris

Cyprus, Limassol

Cyprus is a picturesque island with a warm climate, bathed by the Mediterranean Sea. This southern piece of land holds ancient cultural monuments and romantic beaches. The flow of tourists to the birthplace of Aphrodite remains uninterrupted throughout the year. Real estate plays a major role in the Cypriot economy, and investments in this sector are considered the most promising and massive. In the summer of 2022, the housing market in Cyprus is particularly active, with high-rise complexes and cottage townships under construction. The number of transactions exceeds last year's levels, and prices, especially for sought-after apartments, show steady growth. Limassol stands as Cyprus' main business center, boasting the highest prices per square meter. The market currently favors new real estate in the price range of 300,000 euros and above, offering the opportunity to apply for a permanent residence permit.

The price for 1 square meter when buying an apartment in the city center is $3,100, while outside the center, it's valued at $2,000. The monthly rent for a 1-bedroom apartment in the center and outside is $1,000 and $800, respectively.

Pros of buying property in Limassol:

1. Low taxes;
2. Ease of running your own business;
3. Friendly attitude of locals towards foreigners;
4. Low crime rate;
5. Over 40 beaches awarded the "Blue Flag of the EU" for cleanliness and safety;
6. Free high-quality education;
7. Relaxed lifestyle;
8. Favorable climate and ecological conditions;
9. Developed road network;
10. A variety of marine entertainment and delicious food.

Cons:

1. Unresolved conflict since 1974;
2. Administrative delays due to locals' preference for leisure;
3. Rare signs with numbers and names of streets on houses;
4. Some may feel a lack of cultural life;
5. Peculiar driving habits among locals.

Cyprus, Limassol

When looking at the countries with expensive real estate, it becomes apparent that they are generally considered prosperous states. These destinations offer their citizens, as well as those who aspire to become citizens, various benefits, including personal and property protection. Purchasing real estate in such countries is frequently seen as a profitable and promising investment. Moreover, property ownership often facilitates the acquisition of official status and an improved quality of life.

Interested in buying property in Cyprus? Welcome to the DOM website! Here you will find a wide range of houses and apartments in Limassol, Paphos, Larnaca, and Famagusta, along with the assistance of experienced professionals.

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3. Medical Tourism in Cyprus
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7. Long-term Prospects for Buying Property in Larnaca