In this graphic, Visual Capitalist's Pallavi Rao explores the world's most expensive real estate markets, using data as of December 2024.

The rankings are based on the average price per square meter for a prime 100-200 m² (1,075-2,150 sq. ft) apartment, sourced from New World Wealth and Henley & Partners.

"Prime" real estate refers to properties in the most desirable global locations -- whether for lifestyle, investment, or prestige. These homes typically share four key characteristics:

At the top of the list is Monaco, where prime real estate prices dwarf those of other markets.

The small principality on the French Riviera is a haven for the ultra-wealthy, driven by its low taxes, exclusive lifestyle, and financial services sector. With limited land and soaring demand, Monaco continues to command the highest prices globally.

In second place is New York City, consistently ranked the world's leading financial center. Home to billionaires, major investment firms, and iconic luxury developments, NYC remains a global magnet for capital and prestige real estate.

Hong Kong ranks third, reflecting its ongoing role as a global finance hub. With limited land supply, strong investor demand, and its strategic location in Asia, Hong Kong's prime real estate market remains one of the most expensive on Earth.