In our second annual ‘Global Living’ report, we examine the housing market of 35 of the world's cities. Many of these cities are traditional global centres that have been on the world stage for some time, but others are just rising in prominence and promise.
The results highlight that demand and growth remains highest in those cities that offer a safe harbour for wealth and a robust political and economic environment.
Once again Hong Kong has remained the city with the highest value residential real estate, with apartment prices averaging $1,501 per sq ft. Singapore comes in second, averaging $919 per sq ft. in a city where 90.8% of the population are owner-occupiers. The near-40% difference can be accounted for by Hong Kong’s smaller size of units, in a market that continues to be underpinned by a severely constrained supply backdrop.
Regardless of the uncertainty it has faced over the past twelve months, London remains one of the best performing global cities, with apartment prices averaging $734 per sq ft.