Expensive is a relative term…

Skyrocketing housing prices keeping you up at night? Consider this – according to a report by Citi Private Bank in collaboration with realty firm Knight Frank, Singapore is still far from the most expensive property market in the world. That notorious title goes to Monaco, where the average per square foot is US$5,408. To put that in our local context, a shoebox apartment of 500 square foot will basically set you back US$2.7M, or about SGD$3.5M (and that ignoring the fact that smaller units usually go for higher than average psfs!). Trailing in 2nd spot would be the peninsular of Cap Ferrat in France, at more than US$4,800 psf. The reasons for the sky high prices sound familiar though – scarcity! Hongkong picks up the 10th spot for apartments at US$2,625, although it ranks 4th for landed houses, which trade for an average of US$4,406 psf.

Feel better yet?

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Even Singapore priciest unit at The Marq, at SGD$6,840psf (approx USD$5,261) still falls shy of Monaco’s average selling price!
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