Hong Kong Priciest For City Centre Apartments

The average price of a two-bed city centre apartment in Hong Kong is £1,280,000, more than 11 times as much as the US average (£111,000) and almost £1,000,000 more than in Europe (£131,000). This makes Hong Kong the priciest country in the world to purchase a city-centre apartment. This data comes from new research provided by personal finance comparison website finder.com

London is the second most expensive city, with the average price of a two-bed flat in the capital being £788,000, or £13,328 per square metre. This is then followed by Singapore (£781,000), Beijing (£676,000) and Zurich (£670,000).

Looking at the comparison between countries, Hong Kong is followed by Singapore (£781,000), Switzerland (£543,000), South Korea (£438,000) and Japan (£364,000). Hong Kong is £500,000 more expensive than the next priciest country. The United States is ranked 35th in the most expensive city centre apartments, costing £111,000 on average. New York is the US’s most expensive city at £623,000, making it the 7th most expensive city in the world and almost 6 times more expensive than the US average.

With a cost per square metre of £3,839, the UK (£227,000) is the 16th most expensive nation in the world for a central apartment, with prices 52% above the global average. London is far more expensive than the rest of the UK, with a central flat generally costing buyers over four times more than the UK average.

The cheapest nation of the 91 countries with available data is Egypt. Here a two-bed city centre apartment only costs £27,000 on average. The cheapest city is Sumy in Ukraine, where a apartment would cost £20,000.

 

The 10 most expensive countries for city centre apartments:

CountryAverage price per square metre for city centre flatPrice for two-bed flat
Hong Kong£21,727£1,280,000
Singapore£13,220£781,000
Switzerland£9,182£543,000
South Korea£7,402£438,000
Japan£6,165£364,000
Taiwan£6,089£360,000
Israel£5,365£317,000
Norway£5,073£300,000
China£5,038£298,000
Sweden£4,973£294,000

 

To see the full list of average flat prices by country and city, alongside an interactive map, visit: https://www.finder.com/uk/world-cost-of-a-flat