The most exclusive places to live in the world offer residents a luxury lifestyle and access to refined offerings. The world’s prime residential markets are going from strength to strength as the world’s richest seek secure safe havens to invest in, with many witnessing spectacular growth over the past decade. Read on to discover five destinations with the most expensive real estate in the world.
The most exclusive places to live in the world
1 – Monaco
Monaco consistently ranks as the most exclusive place to live in the world. According to the latest Real Estate Observatory Report, published by the Monegasque Institute of Statistics and Economic Studies, Monaco real estate broke an average cost of 50,000 Euros per square meter for the first time in 2021, making it the most expensive place to purchase property in the world.
As one of the most luxurious destinations, it’s no wonder the principality ranks as the world’s most expensive real estate in the world. Residents enjoy a lavish lifestyle with award-winning restaurants, luxury resorts and spas, and designer boutiques all on their doorstep. Yachting enthusiasts can berth their yachts at the iconic Port Hercules, home to the world’s finest superyachts, while F1 fans can enjoy all the thrills and spills of the legendary Monaco Grand Prix. Not only do residents of the luxury real estate in Monaco enjoy a luxury lifestyle, but they also benefit from economic and political stability, a low crime rate, a favourable tax regime, excellent healthcare, and a wonderful Mediterranean climate.
2 – Hong Kong
Hong Kong regularly tops the list as one of the world’s most exclusive places to live.
The limited landmass and density of the population – Hong Kong boasts over 7.5 million people living in under 430 square miles – has driven property prices skywards. However, ongoing political uncertainty and Covid border restrictions have resulted in the market cooling.
Hong Kong is a thriving cosmopolitan city that boasts everything you could desire to enjoy a luxury lifestyle, with multiple award-winning restaurants, designer boutiques, exclusive clubs, attractions, and a central location in the heart of Asia.
3 – London, UK
While homeworking saw multiple property investors seek a life in the UK countryside, London prices remained steady. The city has seen a robust increase since Covid restrictions were lifted, sealing its position as one of the most expensive real estate in the world, with property experts projecting a 6 to 7 percent market growth in the next year. The rental market in the city is also robust, with investors regularly seeing a healthy return on investment, especially in exclusive boroughs such as Westminster, Kensington, and Chelsea.
London is one of the world’s financial hubs, with residents enjoying an abundance of cultural and luxury attractions, from world-famous museums, art galleries, and restaurants to some of the world’s most iconic shopping destinations, securing its spot as one of the most exclusive places to live.
4 – New York
The Big Apple has long held the position as one of the world’s most exclusive places to live, with real estate in Manhattan, especially around central park, regularly hitting record prices. A lack of land, coupled with increasing demands, means that the only way is to build up, contributing to rising property prices and luxury residential skyscrapers. Continued city migration in the US and increasing wealth are also fuelling prices.
While Washington holds the title as being the capital of the US, it’s New York that boasts true lasting appeal, known as being the epicentre of fashion, art, finance, entertainment, and gastronomy.
5 – Tokyo
Tokyo is one of the world’s most exclusive places to live, home to an increasingly competitive property market, with real estate hotspots centred around the neighbourhoods of Azabu, Omotesando, and Toranomon as demand for luxury soars in the Japanese capital. According to reports, Tokyo’s property price index increased by 6.9 percent in 2021, with the price of new condos in Tokyo hitting a record 62.6 million Yen, approximately 462,400 Euros.
Tokyo is one of the largest, innovative, and most vibrant cities on the planet, offering residents a host of luxury offerings, including cultural hotspots and dynamic entertainment and dining destinations.
There is no question that the world’s most exclusive places to live will continue to entice the world’s most affluent property investors.