If you’re a banker or hedge fund titan and you’ve already got the Manhattan-Connecticut-Hamptons/Nantucket property trio in hand, you might consider your next luxury home purchase in Monaco, just named world’s most expensive luxury residential market for the third year in a row, according to Bloomberg.
The principality imposes no personal income tax.
The average price of a pad in the Mediterranean microstate is $65,600 per square meter.
Trailing in second, was London — a home there will cost you $56,300 a square meter. Paris and two other French locations rounded out the top five, Bloomberg reported.
Not surprisingly, the city with the “fastest price growth in the global luxury residential markets,” was Shanghai. Mumbai and Singapore followed in that race.
Meanwhile, Dubai and Dublin saw luxury home prices fall 10% and 25% respectively, according to Property Week.
As for New York, the city, along with London, is still the most favoured destination among high net worth individuals.