Analyses and trends


04.03.2013 Where luxury is the most expensive

+ View from Honkoong - city with the most expensive luxury properties. View from Honkoong - city with the most expensive luxury properties.

What actually worth luxury? The answer is clear: it depends. New York, Paris, Hong Kong and Sydney are among the top ten most luxurious cities in the world, but the price can be very different, as the report shows Knight Frank Wealth Report.
Of all surveyed cities Hong Kong is the most expensive. Luxury apartment in Chinese metropolis financial cost around 3.7 million euros. Other products are also expensive - a liter of milk costs about € 2.07 and gasoline is 1.65 euros, the study of the British consulting company Knight Frank.

The study, to be published on Wednesday, evaluates cities on a number of factors - economic activity, political power, quality of life, education and influence. In the first edition of the 2009 Hong Kong fell even in the top 10 cities. But the growth of the special administrative region makes it more attractive to foreign buyers. At the same time promote the limited space property prices.

Overall, however, there is little movement among the top cities, says Liam Bailey of Knight Frank. First of all, two cities compete for foreign property buyers: "This is a real competition between London and New York," says Bailey.

In London in 2012, about 60 percent of the luxury properties are acquired by foreigners, as is evident from a study of Christie's International Real Estate. "Buyers from London are colorful mix of Middle East, Africa, Asia and America," says Bailey.