World's most expensive cities revealed – and London makes the top five

Top 20 Most Expensive Cities Globally: Henley & Partners Ranking

Global living expenses are on the rise, particularly in major urban centers, yet certain locations stand out as exceptionally pricey. Henley & Partners, a prominent wealth migration consultancy, recently published a ranking pinpointing the world’s most expensive cities to reside in, based on prime residential property values. This report serves as a crucial indicator for understanding the current landscape of global cost of living and luxury real estate markets.

Key Findings on City Living Costs

The ranking methodology employed by Henley & Partners focused on the average per square meter cost of premium apartments, sized between 100 and 200 square meters. Monaco emerged as the most expensive location, where apartments of this scale command prices exceeding $38,800 (£29,328) per square meter. Reflecting these elevated property values, Monaco is renowned for its affluent population, with millionaires constituting approximately 40% of its residents.

Following closely behind Monaco is New York City, where premium apartments average $27,500 (£20,786) per square meter. Hong Kong secures the third position, with an average price of $26,300 (£19,879) per square meter.

London, the capital of the United Kingdom, ranks fourth on the list, with prime apartment prices averaging $24,000 (£18,140) per square meter. This placement may not be surprising to those familiar with London’s real estate market. Current average house prices in the London area reach £675,000, significantly higher than the average of £350,000 for England and Wales combined. The overall cost of living in London also surpasses that of many other regions within the UK.

London is the sole UK city featured in the ranking. France, in contrast, boasts a significant presence with six cities included: Saint-Jean-Cap-Ferrat, Paris, Nice, Cannes, Antibes, and Èze. The United States holds the second most prominent position in the top 20, with four cities listed among the most expensive.

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Top 20 Most Expensive Cities

Below is the complete list of the top 20 most expensive cities globally, according to the Henley & Partners ranking:

1. Monaco, Monaco
2. New York City, USA
3. Hong Kong, special administrative region of China
4. London, UK
5. Saint-Jean-Cap-Ferrat, France
6. Paris, France
7. Sydney, Australia
8. Palm Beach, USA
9. Miami Beach, USA
10. Los Angeles, USA
11. Singapore, Singapore
12. Geneva, Switzerland
13. Nice, France
14. Portofino, Italy
15. Cannes, France
16. Tokyo, Japan
17. Lugano, Switzerland
18. Antibes, France
19. Porto Cervo, Italy
20. Èze, France