Top 10 Most Expensive Cities to Buy a Home — In the World
Even with the global economy slowing, there are still places that have high home prices. And, while we think of places like Los Angeles, Washington, D.C. and Seattle as expensive places to buy a home, they are not even the most expensive in the world. In fact, only New York City made the list of top ten most expensive places to buy a home. When you look at the U.S. on a global scale, it doesn’t seem so bad. Karim74 offers the top 10 most expensive cities to buy a home:
- Monte Carlo
- Moscow
- London
- Tokyo
- Hong Kong
- New York
- Paris
- Singapore
- Rome
- Mumbai
Image via Wikipedia
I found it fascinating that four of these cities are in Asia. With Asia housing the fastest growing economies in the world, I suppose this shouldn’t be surprising. And, of course, Europe has four of these cities as well, a holdover from when Europe was the economic power. Besides, a lot of people still equate living in Europe with glamour and high living. I was surprised that more U.S. cities didn’t make the list. And one often forgets about Monte Carlo.
If you are preparing to move overseas, it can be helpful to get an idea of how much housing costs. You should also re-consider before you buy a home. Some countries have strict laws about who can own property, and the kind of hoops you have to jump through if you are not a citizen of that country and want to buy a home. Figuring out the cost of living in general is a smart thing before you go. In some cases, you may find that housing and other expenses may be beyond your new income. Check the exchange rate as well, just to see what sort of raise or pay cut you are getting in real terms.
Buying a home is an expensive proposition no matter where you are. However, if you are careful, and you do your homework, it is usually possible to find a good deal — no matter where you end up.
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