Those of you who have searched for a home to buy or rent in the past know that prices can vary per neighborhood due to various factors, including home size, amenities, crime rates, and schools. In fact, prices are rising fast in many cities. This infographic from CashNetUSA visualizes the most expensive neighborhood in every state:
Source: Statista
Big cities like Hong Kong or Los Angeles are well-known for their expensive real estate markets. But there are also a lot of housing markets you wouldn’t necessarily expect among the least affordable – that includes several in Australia, New Zealand and Canada.
According to the 2023 International Housing Affordability Survey by Demographia, three out of the 10 least affordable housing markets are in Australia and New Zealand, two are in Canada and four more are located in the United States. The least affordable housing market is Hong Kong. Here, the median house or apartment price is almost 19 times as high as the median annual gross household income. After Hong Kong, New Zealand and Australia were the least affordable countries overall in the study which looked at the U.S., Canada, the UK, Hong Kong, Singapore, Australia, New Zealand and Ireland.
Source: Statista
So, you’ve got a million dollars burning a hole in your pocket and you’re looking to put a luxury roof over your head? This infographic, using data from Knight Frank, gives you an idea of where in the world you’ll get the most square meters for your lavish outlay.
For those of us with enough funds to invest in luxury property, one of the first considerations will probably be where to buy. Location is everything, but as our infographic shows, it can have a huge effect on how much space you’re able to afford.
Those determined on moving to Monaco will probably have to make some concessions. One million dollars will have you living in just 17 square meters. More spacious options would be Mumbai with 113, Cape Town with 218, or a truly roomy 231 in São Paulo.
