World’s Most Expensive Real Estate

Luxury gadgets, clothing and food are all well and good, but let’s face it—history is written by the land barons. Real estate put the feud in feudalism, made legends of early explorers and put Donald Trump on primetime television. So where is the most valuable land in the world?

The world’s most expensive real estate market, according to a recent survey by the Global Property Guide, is Monte Carlo. Named “Mount Charles” after Prince Charles III of Monaco, Monte Carlo is a northern district in the city-state of Monaco and is home to the Opéra de Monte-Carlo, the renowned Hôtel de Paris and the greater portion of the Curcuit de Monaco, where Formula One drivers race in the Monaco Grand Prix.

Real estate in this land of luxury cost an average of $47,578 per square meter, according to the Global Property Guide’s 2009 report.

Monte Carlo was followed by Moscow, Russia at less than half that price—$20,853 per square meter—and London, England at $20,756 per square meter. New York City placed 6th on the list at $14,898 per square meter.

Global Property Guide’s full top ten list is as follows:

1. Monte Carlo, Monaco – $47,578
2. Moscow, Russia – $20,853
3. London, England – $20,756
4. Tokyo, Japan – $17,998
5. Hong Kong – $16,125
6. New York, USA – $14,898
7. Paris, France – $12,122
8. Singapore – $9,701
9. Rome, Italy – $9,166
10. Mumbai, India – $9,163