Hong Kong property ‘chasing’ Monte Carlo

Photo: Flickr Jim Trodel
Photo: Flickr Jim Trodel

Hong Kong’s home prices have risen sharply over the last year, with a 13.1 percent increase over the 12 months to December 31, according to the Rating and Valuation Department. The city’s apartments are now the second-most expensive in the world, after Monaco.

One million US dollars will buy 200 square feet of prime property in Hong Kong, a little less than 20 square metres, while the figure for Monaco is 152 square feet (some 15 square metres).

International estate agency Knight Frank ranks New York in third place, where the same figure will buy 270 square feet of prime property, and London fourth, providing 320 square feet.


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