Cities are the fastest growing areas in the world and as they grow, so does the price of its real estate, making them some of the most expensive places to buy property in the world.
1. Hong Kong ($1,235,220)
Hong Kong has a booming economy, well-known for its skyscrapers and considered to be a perfect example of the modern city. A huge centre for culture and a fast adapting urban environment make Hong Kong one of the most expensive places to buy property.
2. Singapore ($874,372)
Singapore is a small city with a lot of global clout. This former swampland has been transformed beyond recognition since Singapore gained its independence in 1965. It is now considered one of the financial capitals of the world and is a pioneer in a number of fields, including the best urban systems for running a city.
3. Shanghai ($872,555)
Shanghai is the most populated city in the world with a population of over 26 million people. This city in Eastern China is the world’s busiest container port and one of the largest financial centre globally. Often described as the ‘showpiece’ of China’s booming economy, it’s natural that it’s also amongst the world’s most expensive cities.
4. Vancouver ($815,322)
Often named amongst the top cities for quality of life, it comes as little surprise that Vancouver features on the list of most expensive cities to buy property. The fact that this city is Canada’s most culturally diverse, cleanest and has some of the largest natural areas, are three reasons for its competitive real estate market.
5. Shenzen ($680,283)
One of the lesser-known names on the list, this city sits just above the famous, Hong Kong. Shenzen was one of the fastest growing cities for two decades during the 90’s and 00’s. It is well-known amongst its residents for its parks (it has over twenty), its festivals (over 170 each year) and its technology industry (which is one of the largest and fastest growing in the world).
