The Top 10 Most Expensive Cities to Buy Property in the World
When it comes to purchasing real estate, there are three critical factors to consider: location, location, location. The geographical position of a property significantly influences its value more than any other asset, with urban areas being the most sought-after. Cities represent the fastest-growing regions globally, and as they expand, the cost of their real estate rises, making them some of the priciest locations to invest in property worldwide. Below is our overview of the top 10 cities and their average property prices.
1. Hong Kong ($1,235,220)
Hong Kong boasts a thriving economy and is renowned for its iconic skyscrapers, serving as a quintessential example of a contemporary metropolis. This vibrant hub of culture and rapidly evolving urban landscape positions Hong Kong as one of the priciest places to purchase real estate.
2. Singapore ($874,372)
Singapore, a compact city with significant global influence, has undergone a remarkable transformation from its origins as a swampy area since gaining independence in 1965. Today, it stands as one of the world’s financial capitals and leads in various sectors, including innovative urban management systems.
3. Shanghai ($872,555)
Shanghai holds the title of the most populous city globally, with over 26 million residents. Located in Eastern China, it is the busiest container port in the world and a major financial center. Often referred to as the ‘showpiece’ of China’s flourishing economy, it’s no surprise that Shanghai ranks among the world’s most expensive cities.
4. Vancouver ($815,322)
Frequently recognized as one of the top cities for quality of life, it’s no wonder Vancouver appears on the list of the most costly cities for real estate. This city is Canada’s most culturally diverse and cleanest, featuring expansive natural areas, all contributing to its competitive property market.
5. Shenzhen ($680,283)
Shenzhen, a lesser-known contender on this list, is located just north of the famous Hong Kong. This city experienced rapid growth for two decades during the 1990s and 2000s. Residents appreciate its numerous parks (over twenty), vibrant festivals (more than 170 annually), and a burgeoning technology sector, which is among the largest and fastest-growing globally.
6. Los Angeles ($679,220)
Known as the home of Hollywood, Los Angeles has long been recognized worldwide as a playground for celebrities and the affluent. As America’s second-largest city, it boasts a desirable Mediterranean climate, rich culture, and diverse culinary scene, along with a reputation as the birthplace of the Californian Dream of quick wealth and fame.
7. New York ($674,500)
The Big Apple: New York City is one of the most recognizable urban centers globally and is celebrated for being a place where anyone can achieve success. This densely populated city on the U.S. East Coast is among the most visited destinations worldwide and is regarded as the birthplace of America. It is also one of only two cities with an Alpha++ status, highlighting its significant impact on the global economy.
8. London ($646,973)
London, the largest city in Europe, has consistently ranked at the top of various city lists at different times. As a financial powerhouse, it shares the distinction of being one of only two cities globally to hold an Alpha++ status. Culturally rich yet distinctly British, modern yet steeped in history, London is one of the most prominent and expensive cities in the world.
9. Beijing ($629,276)
Beijing, China’s capital, is a leading global center and a trailblazer in economy, education, culture, and technology. As one of the oldest cities in the world, with a history spanning over three thousand years, it is recognized worldwide as the heart of Chinese culture and heritage.
10. Paris ($624,299)
Known as the city of love, Paris is celebrated as one of the most romantic cities globally. This reputation may stem from the melodic language of its inhabitants, the charming ambiance and architecture, or its rich cultural and historical tapestry. Regardless, Paris ranks among the most visited cities in the world and is also one of the priciest.
Several factors influence property prices in a city, including culture, economy, history, and architecture. However, there is something unique about the cities on this list that elevates their desirability even further. Perhaps it’s the atmosphere, but there’s an undeniable allure that draws people to live there, and as long as that remains true, these cities will continue to be among the most expensive places to reside.
*(All prices as of April 2019, CBRE study)
Tommy is a property-passionate journalist who covers the forces shaping housing and the built environment. With a data-driven approach and a reporter’s curiosity, he writes on market cycles, urban development, PropTech, and policy—always connecting numbers to everyday lives. [Name]’s work blends clear analysis with on-the-ground reporting to help readers navigate trends, opportunities, and risks across residential and commercial real estate.
