evil cat man rich person one million dollars
Source: Canva
  • Most expensive per square metre is Monaco, followed by Hong Kong
  • Perth rose up the rankings, now 34th in the world on PIRI
  • Hong Kong apartment went for HK$1.46M per square metre

Luxury property is hot property at the moment, Perth leaping from 63rd place on Knight Frank’s Prime International Residential Index (PIRI) last year to 34th place this year.

Suffice to say, PIRI proves prime Perth property most prized in the Antipodes.

Recently reported in Hong Kong Tatler, a Borrett Road luxury apartment went for Us $59M (HKD $459M), claimed to be the most expensive apartment ever sold in Asia.

The price tag works out to be around HK$136,000 per square foot (or about HK$1.46M per square metre); HK$1.46M is equivalent to over AU$240,000.

hong kong skyline night time with junk boat
Source: Canva. Hong Kong property is famous for being some of the world’s most expensive.

The same index also lists what you can get around the world for $1M.

PIRI ranks Monaco as the most expensive in the world, US$1M getting you only 16 square metres, enough for 4 physically COVID distanced people.

Close behind, unsurprisingly, is Hong Kong in second with 21 square metres for your million.

The Property Tribune recently reported Hong Kong ranked as least affordable for middle-income earners.

rich mansion old style 1800s with water fountain
Source: Canva.

The usual suspects fill the remainder of the rogues’ gallery: London, New York, Singapore, Geneva, Los Angeles, Paris, Sydney, Shanghai, Tokyo, Beijing, and the list continues.

Melbourne makes an appearance, ranked 15th, Sao Paulo bringing up the rear of the top 20.




You May Also Like

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Perth property market: The definitive guide to buying a modular home

Modular homes, misunderstood as inferior, offer efficient, durable alternatives to traditional construction methods.

The 50 square metre solution getting people into their first homes and delivering an answer to ...

Small, modular homes could be a key part of the broader solution to Western Australia's current housing challenges.

The hardest time ever to buy a house in Australia: How Australian home buying got ...

We're currently in a buyer's market, but that doesn't mean Australian house prices are crashing.