The Global Price of Personal Space

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It’s no secret that property prices in first-world countries have been on a steep increase over the past decade, but which cities sees residents pay the most per square metre for their piece of personal space?

A new study by CIA Landlord Insurance set out to index property prices for both renters and buyers in capital cities across the globe in an effort to find out where people pay the most for what they call home.

Monaco is the most expensive capital for renters

Country	Capital	Av. price 1 bed flat – center (£)	Av. price 1 bed flat – outskirts (£)	Av. price per m2 – rent center* (£)	Av. price per m2 – rent outskirts* (£)	Av. utility prices** (£)	Happiness index score	Average salary net (£)
Monaco	Monaco	2,973.12	2612.10	59.46	52.24	160.55	65	5,236.33
United Kingdom	London	1,685.32	1275.71	33.71	25.51	187.33	17	3,126.61
United States of America	Washington D.C.	1676.61	1314.59	33.53	26.29	116.82	19	4,220.81
Hong Kong	Hong Kong	1658.27	1141.07	33.17	22.82	174.94	77	2,333.05
Singapore	Singapore	1584.87	1068.23	31.70	21.36	86.17	32	3,001.88
Ireland	Dublin	1397.33	1206.85	27.95	24.14	122.89	15	2,515.49
Luxembourg	Luxembourg	1328.32	1056.35	26.57	21.13	192.04	8	3,370.47
The Netherlands	Amsterdam	1303.20	1055.58	26.06	21.11	142.28	5	2,785.15
Sweden	Stockholm	1258.41	853.88	25.17	17.08	66.52	7	2,652.42
Denmark	Copenhagen	1253.48	939.37	25.07	18.79	134.98	2	2,777.84
Haiti	Port-au-Prince	1242.07	675.83	24.84	13.52	98.64	143	417.31
Norway	Oslo	1191.67	947.61	23.83	18.95	125.53	6	2,930.29
Switzerland	Bern	1155.16	829.58	23.10	16.59	140.81	3	4,032.95
New Zealand	Wellington	1130.89	884.05	22.62	17.68	95.42	9	2,626.61
Iceland	Reykjavík	1124.03	975.06	22.48	19.50	78.67	4	2,416.99

Individuals living in Monaco are known for lavish lifestyles with expensive goods and fast cars. Their real estate isn’t any different – those renting a condo in Monaco city centre can expect to pay an average of £2,973.12 for a one-bedroom flat. This comes down to £59.46 per square metre per month, as opposed to a whopping £62,860.27 per square metre for those looking to buy a home in the city.

Infamous for co-housing and a property market that seems out of control is the capital of Great Britain. In London, a one-bed flat can cost an average of £1,685.32, or £33.71 per m2 for those renting. The lucky ones with deep pockets in the market to buy a London home however pay an average of £12,189.00 per square metre for a plot of personal space in the city, or £6,058.57 per square metre further out.

The Land of Promise, or the land of pricey real estate? One-bedroom flats in the American capital Washington D.C. go for an average of £1,676.61 in the city centre, or £1,314.59 in the outskirts. This translates to an average price per square metre of £33.53 and £26.29 respectively.

Monaco & Hong Kong are the most expensive capitals for buyers

Country	Capital	Av. price per m2- buy center (£)	Av price per m2 – buy outskirts (£)	Mortgage Interest Rate (%)	Av. utility prices** (£)	Happiness index score	Average salary net (£)
Monaco	Monaco	62860.27	41963.48	2.27	160.55	65	5,236.33
Hong Kong	Hong Kong	24066.14	17172.39	2.38	174.94	77	2,333.05
Singapore	Singapore	13876.57	7267.55	2.03	86.17	32	3,001.88
China	Beijing	13031.97	6438.88	5.16	32.91	84	971.05
United Kingdom	London	12189.00	6058.57	2.55	187.33	17	3,126.61
France	Paris	11016.50	8114.69	1.23	155.59	21	2,429.33
Gabon	Libreville	10947.96	7715.09	22.67	81.57	112	407.87
Luxembourg	Luxembourg	10139.17	7164.72	1.61	192.04	8	3,370.47
Taiwan	Taipei	9670.41	5880.20	1.58	62.04	24	1,209.25
Senegal	Dakar	9047.35	8596.17	9.00	126.91	92	388.50
Sweden	Stockholm	8901.41	5047.49	2.00	66.52	7	2,652.42
Japan	Tokyo	8570.01	5269.38	1.17	155.70	56	2,613.16
Norway	Oslo	7726.82	5008.80	2.35	125.53	6	2,930.29
Finland	Helsinki	7489.87