International real estate experts on residency and citizenship through investment, Astons, has revealed which nations are home to the most prestigious property markets for high-end buyers when it comes to property values across the three largest cities.
Astons looked at the current cost of a city centre property (43 sqm) across the three largest cities in each nation and which is the most prestigious when it comes to a hattrick of high-net-worth property purchases.
London is considered one of the pinnacles of the global property market and rightly so. With a city centre property costing an average of £493,600 in the current market, it’s one of the most expensive around the world.
However, when considering the current average cost of buying in both Birmingham and Manchester, the UK’s top three cities averages a property value of just £262,788, with buyers looking at a total of £788,364 for a home in each city. As a result, the UK ranks just seventh in the global standings.
The most prestigious property market is Japan, with the purchase of a property in Tokyo, Yokohama and Osaka totalling £1.324m, and all three seeing property prices average at £441,430.
China ranks second with property prices across Beijing, Shanghai and Tianjin averaging £423,074 and a purchase in all three totalling £1.269m.
Switzerland, South Korea, the United States and Germany also ranked ahead of the UK where both the average and total cost of property across their three major cities was concerned.
The most affordable location for a global property investment currently proves to be Turkey. Property prices across Ankara, Istanbul and Izmir average just £30,577 and a purchase in all three would total a very affordable £91,730.
Managing Director of Astons, Arthur Sarkisian, commented:
“We’re seeing an increasing trend whereby global property investors are choosing to spread their bricks and mortar acquisitions across a number of cities in a given country, rather than placing all of their eggs in one basket.
This enables them to invest in different styles and types of property at a variety of price thresholds so that they can meet their different requirements for both personal and professional property investments.
This is something we see a lot in the UK. Many high-end investors like to live in London themselves while having a more diverse portfolio of rental properties across other more affordable cities where they can secure higher yields.
However, when it comes to the most consistently expensive property markets for high-end buyers looking for a hattrick of prime purchases, the figures show that Japan is home to the most expensive bricks and mortar across its three major cities.”
Nation |
Capital city |
Average House Price (43 sq m) |
Second city |
Average House Price (43 sq m) |
Third city |
Average House Price (43 sq m) |
Average of All Three |
Total of All Three |
Japan |
Tokyo |
£379,572 |
Yokohama |
£732,475 |
Osaka |
£212,244 |
£441,430 |
£1,324,291 |
China |
Beijing |
£513,657 |
Shanghai |
£480,390 |
Tianjin |
£275,175 |
£423,074 |
£1,269,222 |
Switzerland |
Bern |
£276,920 |
Zurich |
£457,134 |
Geneva |
£458,944 |
£397,666 |
£1,192,998 |
South Korea |
Seoul |
£669,873 |
Busan |
£152,165 |
Incheon |
£309,159 |
£377,066 |
£1,131,197 |
United States |
Washington D.C |
£221,620 |
New York |
£517,490 |
Los Angeles |
£266,114 |
£335,075 |
£1,005,224 |
Germany |
Berlin |
£217,221 |
Hamburg |
£258,613 |
Munich |
£421,946 |
£299,260 |
£897,780 |
London |
£493,600 |
Birmingham |
£134,238 |
Manchester |
£160,527 |
£262,788 |
£788,364 |
|
France |
Paris |
£469,755 |
Marseille |
£122,213 |
Lyon |
£185,709 |
£259,226 |
£777,678 |
Italy |
Rome |
£260,336 |
Milan |
£319,489 |
Naples |
£142,604 |
£240,809 |
£722,428 |
Australia |
Canberra |
£145,938 |
Sydney |
£317,493 |
Melbourne |
£231,736 |
£231,722 |
£695,167 |
Netherlands |
Amsterdam |
£292,394 |
Rotterdam |
£150,123 |
Den Haag (The Hague) |
£137,071 |
£193,196 |
£579,588 |
Canada |
Ottawa |
£121,329 |
Toronto |
£281,958 |
Montreal |
£147,827 |
£183,705 |
£551,114 |
Spain |
Madrid |
£192,988 |
Barcelona |
£182,241 |
Valencia |
£106,272 |
£160,500 |
£481,501 |
India |
New Delhi |
£69,820 |
Mumbai |
£206,970 |
Bangalore |
£55,509 |
£110,767 |
£332,300 |
Russia |
Moscow |
£165,796 |
St Petersburg |
£79,284 |
Novosibirsk |
£38,748 |
£94,609 |
£283,828 |
Saudi Arabia |
Riyadh |
£36,739 |
Jeddah |
£29,373 |
Mecca |
£142,942 |
£69,685 |
£209,054 |
Indonesia |
Jakarta |
£91,368 |
Surabaya |
£60,352 |
Bekasi |
£50,893 |
£67,538 |
£202,613 |
Brazil |
Brasilia |
£59,579 |
Sao Paulo |
£69,612 |
Rio de Janeiro |
£58,940 |
£62,710 |
£188,131 |
Mexico |
Mexico City |
£77,548 |
Ecatepec |
£35,308 |
Guadalajara |
£32,743 |
£48,533 |
£145,600 |
Ankara |
£23,335 |
Istanbul |
£39,790 |
Izmir |
£28,604 |
£30,577 |
£91,730 |
Astons is a leading global property and immigration advisory firm with offices in London, Beijing, Moscow, Dubai and Limassol (Republic of Cyprus) and offers residency & citizenship investment solutions worldwide including the UK, Turkey, Vanuatu, the EU and the Caribbean.
For further information or to discuss your personal circumstances in a private consultation, please contact Astons at [email protected] or call +44 207 292 2977.