Most Expensive Cities to Buy Property

monacoProperty seekers have been on a constant hunt for prime real estate locations that can generate them lots of profit. Every commercial sector in the world has seen some form of revolution. The Euro faces a constant crisis, as the US dollar continues to be a source of concern. From the latest ranking of reputable residential indexes such a Knight Frank, among others, we can now reveal the most expensive cities in the world to buy property. Here are the cities;

Monaco, France

Monaco is undoubtedly one of the most beautiful and serene locations in Europe and the world as a whole. The breathtaking beauty of the city positions it as one of the most elite and expensive cities to buy property.In Monaco, the price per square meter goes for at least $53,226. One of the most salient features of this city is its tax-free environment. The city charges no tax on personal and rental income, irrespective of your nationality. Only the French nationals pay tax to the government.

London, England

London City, the capital of United Kingdom, is by far one of the most spectacular and progressive metropolitans in the world. The city has one of the fascinating addresses, the likes of One Hyde Park and the prestigious Kensington Palace Gardens. In London, price per square meter goes for as little as $20,505. London has taken a step to entice prospective property buyers with new tax exemptions.

Hong Kong

Hong Kong is undoubtedly one of the most prosperous economies in Asia. In the recent years, the country has framed itself as one of the most prized locations for the luxurious real estate. With a booming economy and the continuous rise in property prices Hong Kong is fast transforming into a center for wealthy individuals who are looking to have a piece of the popular real estate. In Hong Kong, the price of property goes for as little as $19,323 per square meter. Hing Kong does not levy any capital gains tax and well as inheritance tax.

Paris, France

Paris is the world’s fashion capital and the official capital of France. The city of Paris is acknowledged as one of the most expensive places to buy property. In Paris, price per square meter starts at $18,066. Although the property prices continue to rise, taxes levied on gross rental income for foreign nationals is conveniently low. Residents of France and citizens of EU are required to pay 16 percent in capital gains while foreign nationals are levied 33 percent capital gains tax on a double tax treaty.