Hong Kong named world's most expensive city to buy a home via CNBCMakeIt
Hong Kong is the most expensive city in the world for those looking to buy a home, new research showed.Asia dominated the list of the world's most expensive property markets. Hong Kong held its position as the most expensive city for the fifth consecutive year, while Singapore came in second and Shanghai was ranked third.
The Chinese cities of Shenzhen and Beijing were also named among the ten costliest cities for home buyers, ranked in fifth and ninth place respectively. London, named the eighth most expensive city for buying a home, was Europe's priciest city, according to CBRE. Potential buyers in the U.K. capital are looking at an average house price of $646,973 in 2019.Meanwhile, Barcelona, Dublin, and Shanghai were seeing the most rapid growth in house prices, CBRE said.
Abu Dhabi and Hong Kong were the next most expensive areas for renters, both with average monthly rental costs of more than $2,700.
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