Here Are the Most Expensive Cities to Live In, Based on Prime Apartment Prices

3 days ago 19

TEMPO.CO, Jakarta - The cost of living is on the rise in major cities around the world, driven by a combination of global economic shifts, tightening real estate markets, and the increasing concentration of wealth in urban centers.

As property values soar, particularly in highly sought-after neighborhoods, affordability continues to slip out of reach for many residents.

Henley & Partners, a wealth migration firm, annually compiles a list of the world's most expensive cities to live in. The list is based on the average price per square meter of prime residential apartments, typically ranging from 100 to 200 square meters in size.

So, which cities top the list in 2025?

Monaco Ranks The Most Expensive City in the World

Monaco takes the top spot, with apartment prices exceeding $38,800 or Rp653 million per square meter.

In Indonesia, this price could get a simple house on the outskirts of a major city.

However, the high cost of apartments in Monaco is unsurprising given that the principality is known for its wealthy residents. Around 40 percent of the population there are considered billionaires, with an average wealth of over 20 million dollars.

Next is New York, United States. The average price of prime apartments is $27,500 or Rp463 million per square meter. Known as one of the wealthiest cities globally, New York is home to around 384,500 affluent individuals, further contributing to its high cost of living.

Hong Kong takes the third position, with an average apartment price of $26,300 or Rp443 million per square meter. Apart from Hong Kong, other Asian cities among the top 20 most expensive cities include Singapore and Tokyo, ranking 11th and 16th, respectively.

Next on the list is the capital of England, London, where prime property costs around $24,000 (approximately Rp404 million) per square meter. This likely comes as no shock to those familiar with the city’s notoriously high housing prices.

Rounding out the top five is Saint-Jean-Cap-Ferrat, located in the Provence-Alpes-Côte d'Azur region of southeastern France, with an average apartment price of $21,200 (or about Rp357 million) per square meter.

France dominates the 2025 ranking of the world’s most expensive cities, with six locations making the list. These include Paris, Saint-Jean-Cap-Ferrat, Nice, Cannes, Antibes, and Èze.

The United States follows with four entries: New York City, Los Angeles, Palm Beach, and Miami Beach. Switzerland and Italy each have two cities represented, with Geneva and Lugano for Switzerland, and Portofino and Porto Cervo for Italy.

Here are the top 10 most expensive cities in the world in 2025, ranked by the average price per square meter of prime residential property, according to Henley & Partners:

1. Monaco, Monaco

Average price per m²: US$38,800

2. New York, United States

Average price per m²: US$27,500

3. Hong Kong, Hong Kong

Average price per m²: US$26,300

4. London, United Kingdom

Average price per m²: US$24,000

5. Saint-Jean-Cap-Ferrat, France

Average price per m²: US$21,200

6. Paris, France

Average price per m²: US$20,400