According to recent market research Hong Kong has the most expensive real estate in the world right now with square footage property almost double that of anywhere else, including London. Many of the worlds biggest Billionaires were buying homes here for a reported 6,700 pounds ($10,360 USD) per square foot in June. These numbers show a significant increase in Hong Kong’s real estate value over the last six months.
To give you a better idea, here is how Hong Kong’s real estate compares to the square-footage figures from other top market countries: 5,190 pounds in Tokyo, 3,270 pounds in Paris and 3,090 pounds in London. This means very good things for high-end real estate in Hong Kong, which will then trickle down to the rest of the economy.
Source: Bloomberg Businessweek