Demand for luxury property in the world’s biggest cities is continuing to rise, says global property consultancy Knight Frank in The Wealth Report 2015.
Headwinds to demand for upmarket houses in some areas of the world – such as the changes to the tax status of non-doms living in the UK, announced by chancellor George Osborne in the Summer Budget – have been offset by the relaxing of capital controls in some emerging markets, most notably in China.
The graphic above shows the ten most expensive cities in the world in which to buy prime-location property – your $1m will only stretch to 17 sqm in Monaco, whereas it will buy you more than three times that space in the nicest parts of Los Angeles.