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Thursday, March 29, 2012

The Most Expensive Real-Estate in the World is in Monaco. The Wealth Report - WSJ

By Robert Frank

Associated Press
Monaco

If you think real-estate in Manhattan or San Francisco is expensive, consider Monaco.

The price of real-estate in Monaco — the world’s most expensive locale — is now an average of $5,408 a square foot, according to a report from Citi Private Bank and Knight Frank, the London real-estate firm. Spending $1 million will get you a 200 square-foot closet – presumably without a water view.

The second most expensive locale is Cap Ferrat in the south of France, at more than $4,800 a square foot. That’s followed by London, at $4,534 a square foot, and then by Hong Kong, at $4,406 a square foot.

New York is a relative bargain, coming in at number 17, at more  than $2,161 a square foot (this seems to be a little  high, even for Manhattan). The only other U.S. locations on the top 50 are Aspen, at number 39, with $974 a square foot, followed by Telluride ($760 a square foot) and Miami, at about $580 a square foot.

Here is the list of the Top 10

LOCATION    AVG PRICE PSF

Monaco – $5,408

Cap Ferrat — $4,800

London — $4,534

Hong Kong (houses) — $4,406

Courcheval 1850 — $4,081

St. Moritz — $3,951

Gstaad — $3,701

St. Tropez — $3,600

Geneva  – $2,959

Hong Kong (apartments) — $2,625

EDITOR’S NOTE: An earlier version of the chart contained incorrect dollar conversions.

The Most Expensive Real-Estate in the World is in Monaco. The Wealth Report - WSJ

No surprise here, Monaco is one of the most luxurious little jewel boxes in the world. Spectacular hotels, unbelievable restaurants, and truly glamorous casino and all with views of the yachts and coast. A truly magical wonderland.
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