The Most Expensive Housing Markets For Billionaires

mansions hills hong kongMansions in the hills of Hong Kong

Photo: Ray_from_LA via Flickr

Unlike the volatile global housing market, the ultra-prime real estate market of the world’s billionaires has performed well throughout the economic downturn, according to a new study from UK-based real estate firm Savills plc.

Click here to see the most expensive housing markets for billionaires >
The company’s new “global billionaire” property index of 10 major cities shows that prices of the homes of the mega-rich rose by an average of 10% in the first six months of 2011, compared to a growth rate of 6% for ordinary properties in the same cities.

Price growth of ultra-high value homes has been highest in emerging markets like Singapore, where prices have increased 144% since 2005 and Mumbai, where prices have jumped 138% in the same period, Savills said.

But they have also held strong in traditional “old world” markets like Paris, London and New York, according to the company.

The billionaires’ housing market has remained strong thanks in part to the creation of new billionaires and their interest in global real estate in both emerging markets and “safe-haven” cities in Europe and the U.S.

Hong Kong takes the cake in terms of housing prices for billionaires–who pay twice as much for homes there as they do in London.

#10 Sydney

Price per square foot: $917

Average property size: 19,380 square feet

Price change from 2005 to 2010: 21%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#9 Mumbai

Price per square foot: $1,103

Average property size: 6,790 square feet

Price change from 2005 to 2010: 138%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#8 Singapore

Price per square foot: $1,554

Average property size: 12,300 square feet

Price change from 2005 to 2010: 144%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#7 Shanghai

Price per square foot: $2,052

Average property size: 5,380 square feet

Price change from 2005 to 2010: 32%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#6 New York

Price per square foot: $3,528

Average property size: 6,500 square feet

Price change from 2005 to 2010: 26%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#5 Moscow

Price per square foot: $3,917

Average property size: 4,630 square feet

Price change from 2005 to 2010: 110%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#4 London

Price per square foot: $4,803

Average property size: 7,860 square feet

Price change from 2005 to 2010: 38%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#3 Paris

Price per square foot: $5,083

Average property size:10,760 square feet

Price change from 2005 to 2010: 49%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#2 Tokyo

Price per square foot: $8,068

Average property size: 16,010 square feet

Price change from 2005 to 2010: 11%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

#1 Hong Kong

Price per square foot: $10,415

Average property size: 5,200 square feet

Price change from 2005 to 2010: 83%

All figures are for properties owned by billionaires in the cities included in the study.

Source: Savills plc

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