As financial worries take over the nation and world, Haute Living looks at property prices in major cities around the globe.
Money woes have become a critical talking point for people all over the world and property prices are always a hot topic within the debate. Asian countries have tried to introduce regulatory measures in an effort to contain home sales and inflation and prime real estate markets have seen property prices grow at a slower rate than last year.
Here is a rundown of 11 of the most expensive cities to currently own property in:
Hong Kong: Prime property prices rose 2.8% from the last quarter.
St. Petersburg: Since the first quarter of 2010, St. Pepersburg has posted positive annual luxury home price growth. In the last quarter alone, prime property prices were up 8.4% presumably driven by a marked improvement in economic and business sentiment in Russia over the course of 2011.
Paris: Foreign demand in luxury homes in Paris has remained high, with much of that interest coming from the Middle East and particularly Syria.
Beijing: Despite Asia’s regulatory measures, luxury home prices here grew at a faster rate than they did in Shanghai.
London: London has seen an increase in the supply of luxury properties over the course of the year, however prices were up 3.4% in the second quarter.
Shanghai: Analysis indicates that luxury property prices have increased in Shanghai, despite government regulations.
Zurich: Luxury property prices were up 2.3% in the first half of the year after falling 0.3% in the first quarter.
New York (Manhattan): Luxury home prices increased 3.6% in the second quarter of 2011 from the previous quarter.
Moscow: Luxury home prices were u p 5.9% in the first half of 2011.
Singapore: Prices fell 2% in the second quarter of 2011 from the previous quarter.
Geneva: Luxury home prices were up 3.2% in the first quarter of 2011.
Source and Photo: Business Insider