Global Property Guide: Monte Carlo has the world's most expensive real estate market.
Global Property Guide has ranked Tel Aviv as the world's 33rd most expensive real estate market with average prices of $4,582 per square meter. This is less than 10% of the world's most expensive city Monte Carlo where the average price per square meter is $47,578. In second place is Moscow ($20,853) closely followed by London ($20,756), Tokyo ($17,998), Hong Kong ($16,125) and New York ($15,828). The prices are based on a 120 square meter apartment in the city center.
Israel finds itself sandwiched between Milan in 32nd place with prices of $4,624 per square meter and Prague in 34th place with prices of $4,559 per square meter.
In terms of highest gross rental yields, Tel Aviv is in 44th place a yield of 5.13% tied with Beirut and just behind Beijing, with 5.14%. New York ranked 61st with a yield of 4.37% and London was 69th with a yield of 4.12%.
Published by Globes [online], Israel business news - www.globes-online.com - on February 9, 2009
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