If we told you that a luxury home was selling for $13,000 per square foot, you'd probably be hard-pressed to believe us. Well, it turns out such a place exists --Hong Kong-- which happens to be the most expensive. And there are other cities like it with nearly equal asking prices. Forbes generated a list (http://www.forbes.com/sites/morganbrennan/2013/03/22/the-worlds-most-expensive-cities-for-luxury-real-estate/) of the world's 10 most expensive cities for luxury real estate using data provided by Savills (http://www.savills.com), a global real estate services firm.
But billionaire activity in real estate markets isn't necessarily indicative of a city's holistic wealth. Hong Kong, for example, scales its way to the top as number one on the list -- but as we've seen the city is also home to dense populations of city-dwellers who live in shockingly cramped compartments (http://www.huffingtonpost.com/2013/02/21/hong-kong-apartments-aerial-view_n_2732631.html).
CNN Money also recently reported the world's most expensive cities (http://money.cnn.com/gallery/pf/2013/02/06/most-expensive-cities/index.html), but in this case focused on cost of living versus real estate. Surprisingly, there are only four cities that overlap both compilations.
Either way, the list is certainly worth a look. You know, just in case we win the lottery.
A major Hat Tip to Forbes (http://www.forbes.com/sites/morganbrennan/2013/03/22/the-worlds-most-expensive-cities-for-luxury-real-estate/) is due, where you can find even more information on the subject.
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Via: HuffingtonPost