Real estate is one of the clearest reflections of a city’s global standing. From economic stability and population growth to lifestyle, culture, and demand from international investors, property values reveal where people most want to live—and what they’re willing to pay for it.

In 2025, the global real estate landscape continues to be shaped by affordability challenges, limited supply in prime markets, and strong demand from high-net-worth individuals. Below, we explore the top 20 cities worldwide with the most expensive real estate markets.

---

1. Hong Kong

Consistently ranked at the top, Hong Kong’s real estate market is defined by its scarcity of land and extraordinary demand. Prices remain among the highest globally despite economic shifts.

2. New York City, USA

NYC remains a magnet for investors, offering luxury condominiums, historic brownstones, and prestige addresses like Manhattan’s Upper East Side and Billionaires’ Row.

3. London, UK

A hub for global finance and culture, London’s prime neighborhoods like Knightsbridge, Kensington, and Mayfair continue to command premium prices.

4. Monaco

This small principality has the world’s highest property values per square meter. Limited land and tax advantages make Monaco ultra-exclusive.

5. Singapore

Singapore combines political stability, strong infrastructure, and foreign investment appeal, keeping its market among the most expensive in Asia.

6. Tokyo, Japan

Tokyo offers a blend of modern luxury and traditional culture. Despite its large size, the most central districts remain highly competitive and costly.

7. Sydney, Australia

Known for its waterfront lifestyle and international appeal, Sydney’s housing affordability challenges stem from relentless demand and limited supply.

8. Paris, France

The “City of Light” continues to see strong demand for its historic apartments, especially in arrondissements close to cultural landmarks.

9. Geneva, Switzerland

This global financial hub has consistently high property values, boosted by demand from expats, diplomats, and luxury buyers.

10. Shanghai, China

Shanghai is one of China’s key global gateways, with property values that rival other world-class cities due to urban density and investor activity.

11. San Francisco, USA

Fueled by tech wealth and constrained land, San Francisco’s real estate remains among the priciest in North America.

12. Vancouver, Canada

One of the most desirable cities in North America, Vancouver has high prices driven by lifestyle appeal, natural beauty, and strong international demand.

13. Beijing, China

China’s capital is a powerhouse where limited supply of central properties pushes values consistently higher.

14. Los Angeles, USA

From Beverly Hills to Malibu, LA’s luxury market is defined by glamorous estates, oceanfront homes, and global celebrity demand.

15. Zurich, Switzerland

Zurich combines financial strength, high quality of life, and limited housing supply, creating consistently high prices.

16. Seoul, South Korea

South Korea’s booming economy and urban density have made Seoul one of Asia’s most expensive cities for homeownership.

17. Toronto, Canada

Canada’s largest city continues to experience supply shortages and rising demand, keeping it among the most expensive global real estate markets.

18. Dubai, UAE

Dubai’s luxury market—known for opulent villas and skyscraper penthouses—has surged again thanks to global investment and tax advantages.

19. Miami, USA

With its waterfront lifestyle, tax benefits, and growing international reputation, Miami has become a global luxury hotspot.

20. Milan, Italy

Italy’s fashion capital offers some of Europe’s highest real estate prices, especially in historic central districts.

---

Global Real Estate Outlook

While each city has unique drivers, a few common themes emerge:

• Limited Supply: Land constraints in cities like Hong Kong, Monaco, and Vancouver keep prices elevated.

• Global Investment: International buyers see real estate in cities like London, New York, and Dubai as safe havens.

• Lifestyle Appeal: Cities with a strong blend of culture, education, and natural beauty—such as Paris, Sydney, and Vancouver—attract long-term demand.

As markets evolve with shifting interest rates, geopolitical changes, and economic cycles, these global hubs remain benchmarks for luxury and high-demand real estate.