Real estate market: Prices in Monaco remain the most expensive

Monaco continues to live up to its reputation as the number one luxury city: According to a recent report by Knight Frank and Citi Private Bank, the principality is and remains the most expensive city in the world. On average, prospective property owners here had to pay 46,193 euros per square meter in the fourth quarter of 2010.

If the living space is not quite so cramped, real estate prices can quickly reach the millions. One of the reasons for this is probably the limited space available in Monaco. Living space is a rare commodity here.

In terms of price, London can almost keep up with it in second place. Real estate in the English capital costs around 39,000 euros per square meter. Directly behind it five French Nobelorte follow: Cap Ferrat, pc. Tropez, Paris, Courchevel and Cannes. In Cap Ferrat, for example, people paid 38,000 euros per square meter.

Germany, on the other hand, is comparatively inexpensive. Here, prices are usually well below the 20,000 euro mark. The most expensive in this country is the posh resort of Kampen on the island of Sylt, with prices per square meter of between 25,000 and 35,000 euros.