The cities with the most expensive luxury real estate in the world

The world's billionaires live a frenzy of real estate purchases. In the United States the records have been broken with massive purchases in all major property markets, from Woodside to Malibu, Aspen to Chicago and Miami to New York. And internationally, massive sales in London, Singapore and Hong Kong have drawn attention worldwide.

The city that offers the most expensive real estate luxury on the planet is Hong Kong. Luxury houses in the Chinese island territory averaged nearly $ 11,000 per square foot, or more than $ 118,000 per square meter, in 2012 the average size of a "multi-million dollar property" on the island is 483 square meters, which establishes the price of an average  luxury home in more than 57 million. The record for the most expensive city business is held by a house at Deep Water Bay Road, which sold for about $ 140,000 (at time of sale) per square meter in 2011. 

The second most expensive homes to high-end place is actually another city in Asia is Tokyo. The average size of a home in the capital of Japan is 1,480 square meter, for an average of $ 82.000 per square meter. In other words, an opulent mansion in Tokyo has a market value of 121.3 million dollars. 

London, where a house was recently traded for about $ 120 million, ranks third in the list, with an average price per square meter of $ 57.000. The average home has about 734 multimillion square meters and cost about $ 42 million.

The housing prices have soared 107% in the ultra-prime London market since 2005, despite the global economic crisis. However, in general, the increase was more dramatic in emerging markets such as Singapore and Mumbai, where prices have soared 232% and 176%, respectively, since 2005 growth is due in large part to the fact that both started from a relatively low base. 

Interestingly, the market for super luxury New York, despite the large purchases, like the penthouse of 88 million dollars Ekaterina Rybolovleva at 15 Central Park West penthouse and $ 70 million of Steve Wynn at the Ritz Carlton, achieved only sixth place in the list, after Paris (No. 4) and Moscow (number 5). The average price per square foot in the Big Apple was $ 44.174 in 2012 Yet that exceeds 47% handled sales prices during 2005, at the height of the housing bubble in the United States.

The list of 10 cities with the most expensive luxury real estate:

1 Hong Kong, China 
Average price per square meter: $ 118.000 
Average size of buildings: 483 m2 

2 Tokyo, Japan 
Average price per square meter: $ 82.000 
Average Size of property: 1,400 m2 

3 London, England 
Average price per square meter: $ 57.000 
Average size of buildings: 730 m2 

4 Paris, France 
Average price per square meter: $ 47.000 
Average Size of property: 1,000 m2 

5 Moscow, Russia 
Average price per square meter: $ 46.000 
Average size of buildings: 420 m2 

6 New York, United States 
Average price per square meter: $ 44.000 
Average size of buildings: 603 m2 

7 Shanghai, China 
Average price per square meter: $ 23.000 
Average size of buildings: 500 m2 

8 Singapore 
Average price per square meter: $ 19.000 
Average Size of property: 1,100 m2 

9 Mumbai, India 
Average price per square meter: $ 10.446 
Average size of buildings: 630 m2 

10 Sydney, Australia 
Average price per square meter: $ 9.400 
Average Size of property: 1,800 m2