Monaco Tops London as World’s Most Expensive Real Estate Market
October 2nd, 2008 by BallerHouse
At an average price per square foot of about $6,620, Monaco now tops the list as the most expensive real estate market in the world, beating out London, where the average price per square foot is $5,792, according to an index compiled by UK property research firm Knight Frank LLP. To give you an idea of how much (or rather how little) bang you get for your buck in the new list-topping tax haven, we’ve assembled a selection of the most expensive properties on the market within the Principality, where your average 1,500 square foot apartment would theoretically run you just under $10 million.
On the high end of the spectrum in our featured properties, listed in descending order from highest to lowest total price, you’ll find a nearly 7,000 square foot townhouse selling for €27.5 million ($38 million), a 3,200 square foot apartment running €26 million ($35.9 million), and a 5,200 square foot penthouse priced at €24 million ($33.1 million). Pulling up the rear so-to-speak, is a 2,690 square foot villa listed for €10 million ($13.8 million) and a 480 square foot apartment at just over €1.49 million ($2 million). Prices per square foot range from $4,170 to $11,200.
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