Monaco is the most expensive city in the world to buy an apartment in October 2026, at about $67,000 per square meter, more than double Hong Kong in second place at $27,753. This list ranks 12 cities by the price of a city-centre apartment per square meter, using the latest official statistics, bank research and market reports. A typical 80-square-meter flat costs about $5.4 million in Monaco and about $1.5 million in New York.
| Rank | City | Price per square meter | Typical 80 sq m flat |
|---|---|---|---|
| 1 | Monaco | about $67,000 | about $5.4 million |
| 2 | Hong Kong | $27,753 | about $2.2 million |
| 3 | Zurich, Switzerland | about $26,700 | about $2.1 million |
| 4 | Seoul, South Korea | about $25,500 | about $2.0 million |
| 5 | Singapore | about $25,000 (estimate) | about $2.0 million |
| 6 | Geneva, Switzerland | about $22,700 | about $1.8 million |
| 7 | London, United Kingdom | about $20,100 | about $1.6 million |
| 8 | New York City, United States | about $18,200 | about $1.5 million |
| 9 | Tel Aviv, Israel | about $17,000 (estimate) | about $1.4 million |
| 10 | Paris, France | about $14,900 | about $1.2 million |
| 11 | Vienna, Austria | about $14,600 | about $1.2 million |
| 12 | Tokyo, Japan | about $14,000 to $15,000 (estimate) | about $1.1 to $1.2 million |
The original version of this list, written in the 2010s, ranked 15 cities with Amsterdam, Helsinki, Stockholm, Mumbai and Moscow in the lower half. We rebuilt it for 2026. Those five cities now sit below the top 12 or lack a current figure we can stand behind, so they are gone. Zurich, Seoul and Singapore are new entries, and every city is measured on the same yardstick. Euro figures are converted to dollars at the rate implied by the Hong Kong price quoted in both currencies (about 1.17 dollars per euro).
What makes a city this expensive?
Three forces show up again and again. Tiny land supply (Monaco, Hong Kong), a global finance and wealth-management hub (Zurich, Geneva, Singapore, London, New York), and a mix of high incomes with strict limits on new building (Seoul, Tokyo, Vienna). Cities with all three sit at the top.
1. Monaco: about $67,000/sq m
Monaco covers roughly two square kilometers, so every new tower is built on reclaimed land. The official statistics office put the 2025 average at 57,569 euros per sq m, a slight dip from 2024 after the office changed its method. The priciest district, Larvotto, passed 70,000 euros a square meter for the first time, helped by the new Mareterra district built into the sea.
Monaco recorded 493 property sales in 2025 worth a combined 5.9 billion euros. Buying 80 square meters here takes about 4.6 million euros.
How we valued it: Official 2025 average sale price per square meter from the principality’s statistics office, converted to dollars, cross-checked against agency reports of the Larvotto district.
2. Hong Kong: $27,753/sq m
Hong Kong remains the most expensive large city on earth for housing even after prices fell about 10 percent from their pre-pandemic peak. Land is tightly rationed and most of the city is steep hills and protected country parks.
A flat of 80 square meters costs about $2.2 million, which is why many residents live in much smaller homes.
How we valued it: City-centre apartment price per square meter from the Deutsche Bank 2026 global price survey of 69 cities.
3. Zurich, Switzerland: about $26,700/sq m
Zurich is the priciest city in Europe, at 22,910 euros per square meter in the 2026 survey. Banking, insurance and a stable franc keep demand high, while zoning and tenant rules keep supply low.
A flat that size costs about 1.83 million euros, or roughly $2.1 million.
How we valued it: Bank survey price for Zurich, converted to dollars.
4. Seoul, South Korea: about $25,500/sq m
Seoul is the only Asian city outside Hong Kong and Singapore in the global top five. Apartment towers in Gangnam and the Han River districts drive the average, and rapid price swings have prompted repeated government cooling measures.
The survey figure of 21,897 euros puts a flat of 80 square meters at about $2.0 million.
How we valued it: Seoul price from the same bank survey, converted to dollars.
5. Singapore: about $25,000/sq m
Singapore ranks fourth in the Deutsche Bank survey, between Seoul and Geneva, but we could not confirm the exact per-square-meter figure. Prime central condominiums launched in 2026 averaged about S$3,200 per square foot, which works out to roughly $25,000 to $27,000 per square meter at current exchange rates.
A government-led land supply, stamp duties on foreign buyers and a strong currency keep the market among the most expensive in the world.
How we valued it: Ranking position in the 2026 survey, plus indicative 2026 new-launch pricing in the core central region converted to square meters. Treated as an estimate.
6. Geneva, Switzerland: about $22,700/sq m
Geneva is home to international organisations, commodity traders and private banks, and has very little buildable land between the lake and the French border. Prices reached 19,439 euros a square meter in 2026.
Expect to pay about 1.56 million euros, or roughly $1.8 million, for 80 square meters.
How we valued it: Geneva price from the bank survey of 69 cities, then converted to dollars.
7. London, United Kingdom: about $20,100/sq m
London comes in at 17,241 euros per sq m in the 2026 survey, third highest in Europe and about 35 percent above Paris. Prime central districts are far higher than this city-centre average.
For 80 square meters the bill is about 1.38 million euros, or roughly $1.6 million.
How we valued it: Bank survey average for central London, converted to dollars. Other market reports show a range, so we kept the survey figure.
8. New York City, United States: about $18,200/sq m
Manhattan closed the second quarter of 2026 with an average price of $1,694 per square foot, which is about $18,200 per square meter. The median sale was a record $1.25 million for a second-quarter period, and the average sale was about $2.11 million. Inventory fell about 15 percent over the year.
This is Manhattan only. Prime new towers on Billionaires’ Row sell far above the average.
How we valued it: Manhattan average price per square foot for the second quarter of 2026 from the Miller Samuel and Douglas Elliman market report, multiplied by 10.764 to convert to square meters.
9. Tel Aviv, Israel: about $17,000/sq m
Tel Aviv prices are commonly quoted at 60,000 to 65,000 shekels per square meter in 2026, which is about $16,000 to $20,000 depending on the exchange rate. Tech-sector salaries and limited land keep prices high.
Top-end deals are much higher. Apartments near the SIX 8 tower sold above 120,000 shekels per square meter in late 2025.
How we valued it: Market estimates of the 2026 city average in shekels, converted at a range of recent exchange rates. Evidence is thinner than for other entries, so treat the figure as a range.
10. Paris, France: about $14,900/sq m
Paris averages 12,771 euros a square meter, lower than London and far below Zurich. Prime areas such as the 6th and 7th arrondissements sell at much higher prices.
A typical 80 square meter flat comes to about 1.02 million euros.
How we valued it: Survey price for central Paris, converted to dollars.
11. Vienna, Austria: about $14,600/sq m
Vienna has climbed the ranking because of strong demand for a safe, well-run city. The 2026 survey puts the average at 12,483 euros per square meter.
The same size flat costs about 1.0 million euros.
How we valued it: Survey price for central Vienna, converted to dollars.
12. Tokyo, Japan: about $14,000 to $15,000/sq m
Prices for new condominiums in Tokyo’s 23 wards hit a record in fiscal 2025, with the average new unit at 137.84 million yen, up 18.5 percent from the year before. Early fiscal 2026 data reportedly pushed the average higher still, led by luxury towers in Minato Ward.
Supply of new condos across greater Tokyo reportedly fell to its lowest level in decades, which keeps pressure on prices.
How we valued it: Average new-condo unit prices from the Real Estate Economic Institute, divided by a typical unit size of 60 to 65 square meters and converted to dollars. This is our own estimate and the least certain figure on the list.
FAQ
What is the most expensive city in the world to buy property in 2026?
Monaco, at about $67,000 per square meter based on the 2025 official average. Hong Kong is second at $27,753 per square meter.
How much does an apartment cost in the most expensive cities?
An 80-square-meter apartment costs about $5.4 million in Monaco, $2.2 million in Hong Kong, $2.1 million in Zurich and $1.5 million in Manhattan.
What is the most expensive city in Europe to buy an apartment?
Outside Monaco, Zurich is the priciest at 22,910 euros a square meter, followed by Geneva at 19,439 euros and London at 17,241 euros.
Which cities left or entered the list since the original version?
Amsterdam, Helsinki, Stockholm, Mumbai and Moscow left. Zurich, Seoul and Singapore joined, and New York, London and Geneva were re-ranked using 2026 data.
Why is Singapore listed as an estimate?
The 2026 survey ranks Singapore fourth, but we could not confirm its exact per-square-meter price. We used 2026 new-launch pricing to estimate it.
How are the prices on this list calculated?
We use city-centre apartment prices per square meter from official statistics, a 69-city bank survey and market reports, converted to dollars. Estimates are labeled as such.
How we put this list together
We ranked cities by the price of a city-centre apartment per square meter, taking official statistics where they exist and a 2026 bank survey of 69 cities for the rest. Where a figure was thin we gave a range and labeled it an estimate.
Last updated: October 2026.
