Manhattan: Good Value vs Top Global Cities
Posted by Wei Min Tan on October 30, 2017
Summary: Wei Min Tan writes about Manhattan, although the most expensive city in the U.S., is a relative value compared to top global cities like London and Hong Kong. At the time of writing, Manhattan average was $1,000 per sqft.
Excerpt: According to Knight Frank, the most expensive real estate in the world is Monaco at $4,300 per square foot. Having been there just two months ago, there is probably no other place in the world that has more private banks. Second is London at $3,600 per square foot; third is Paris at $2,400; and fourth is Hong Kong at $2,000.
Fifth is Rome at $1,800 per square foot and sixth is Geneva at $1,700.
Manhattan? A low tenth place at $1,500 per square foot. Just below Tokyo and above Singapore.
Note: The Knigh Frank analysis focused on the luxury end of real estate which explains why it showed Manhattan at $1,500 per sqft.