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Top 5 most expensive cities to buy real estate

Looking to drop some serious money on real estate? These cities come in as the most expensive investments

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By Edwain Steenkamp | May 31, 2023 | Travel Leisure

Think property prices are crazy here in South Africa? Have a look at these real estate hotspots around the world, where even small apartments go for millions of rands.

5: Singapore

With a very limited amount of real estate to go around, properties in the city state of Singapore are seriously expensive. Two bedroom apartments are commonly around R15 million, and prices soar if you’re looking for anything more spacious, or something in an affluent area.

View of the magnificent Singapore; Image: by Swapnil Bapat via Unsplash

4: London

Who doesn’t love London! It’s a an all-round favourite. And real estate reflects that. In the historic city, if you’re looking for a two bedroom apartment, you’re looking at a price range of around R30 million and up.

Who doesn’t love London? Image: by Benjamin Davies via Unsplash

3: New York

The city that never sleeps attracts tourists and investors alike from all over the world. And its easy to understand why. New York literally has it all. Now in all fairness, New York is rather big, with many neighbourhoods and boroughs spanning across the city. But if you’re looking to buy a two bedroom apartment in an affluent area like Manhattan, you will easily have to drop around R30 million, with prices souring even higher than that if you’re looking for something extra luxurious.

New York’s magnificent skyline; Image: by Michael Discenza via Unsplash

2: Hong Kong

Shopping, fashion, architecture – Hong Kong has it all. Which is probably why real estate here is as expensive as it is. And being densely populated, properties are preciously rare. A two bedroom apartment in a good area can cost up to R50 million. Now that’s some serious money!

Hong Kong is picture-perfect; Image: by Dan Freeman via Unsplash

1: Monaco

Coming in at number one is perhaps the most glamorous city in the world. Racing cars, yachts, royalty, and swoon-worthy coastlines – and all wrapped up in a city state little bigger than 200 hectares – it’s little wonder that Monaco is one of the most expensive cities when it comes to real estate investments. Listings for a two bedroom apartment in this beautiful city easily goes for R115 million!

The splendid coastline of Monaco; Image: by Tom Wheatley via Unsplash

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