3. Hong Kong ($25,500 per square meter)
We are reaching the top three on our list of cities with highest property price. And on third position, we have the sovereign state of China, Hong Kong, with $25,500 per square meter of apartment buying price.
So if we use 120 square meters as the average apartment size in the city, to live in Hong Kong, you need around $7,000 for monthly rent or $3 million for a purchase. That is a staggering number compared to any other cities in Asia. As we have seen before, the second most expensive city in Asia is Singapore, which is way down in 10th position with only half of Hong Kong’s buying price.
Some of the reasons are quite obvious as Hong Kong’s business has developed as one of the best. But what most people don’t know is that this city has become one of the most popular places for billionaires to hide their money.
Besides competing with billionaires and millionaires to get a place to live here, you also need to compete with over seven million people who already live in Hong Kong today. 17,024 inhabitants per square mile is a pretty high population density.
