The Five Most Expensive Cities In The World

[ST1976]

here we have exchange rate property price of world, might be. Mumbai is listed near Kula Lumpur

Real Estate Prices and Rents Comparison by City (globalpropertyguide.com)

article of this thread would be Purchasing Power Parity calculation. they might have adopted some other measures also, Im not sure.
why we dont have Moscow in this list? its no less than Asian cities....

 

[ST1976]

double post

 

[Fish]

Mumbai? You've got to be sh!tting... pun intended.

Somehow, there's no mention of Tokyo or Singapore?!

Singapore overtakes Hong Kong as the most expensive Asia-Pacific city for private homes

According to the Urban Land Institute Asia Pacific Centre for Housing, the median price of Singapore's private homes is $1.2 million, compared to $1.16 million in Hong Kong.

www.cnbc.com

Sounds like Pajeets have finally overrun Forbes, heh! They're literally everywhere.

 

[ST1976]

Office rental market study finds Delhi-NCR as 6th most expensive place in Asia Pacific​

OCTOBER 29, 2023

Bengaluru stood 19th on the list and is one of the least expensive prime office markets in the APAC region.​

Delhi-NCR has ranked as the sixth most expensive office space rental market across the Asia Pacific (APAC) region with Hong Kong SAR topping the list in the third quarter of 2023, according to a Knight Frank report.

The report, Asia-Pacific Prime Office Rental Index for Q3 2023, said that the demand for office space in India’s largest occupier markets remained strong with over 700,000 sq metres of space leased out during the quarter.

"Strong occupiers' demand for setting up Global Capability Centres (GCC) constituted most of the demand, which made up for slower demand from flex space operators," it said.

Prime office rentals in Delhi-NCR, Mumbai, and Bengaluru remained strong in annual terms, while the rentals for the next 12 months are also expected to stay stable at current rates.

On an on-quarter basis, the average rent across the region showed stability, with declines in the Chinese mainland markets moderating. This was counter-balanced by rental growth in most other developed markets. Overall, the quarterly report indicated that in line with Q2 of 2023, some 15 of the 23 tracked cities reported either stable or increasing rents, similar to Q3 of 2023.

"With the positive outlook in the office market and improved physical occupancy, the stability in occupancy and rental rates since 2022, coupled with the rising demand in 2023, reinforces our belief that the Indian office market's resilience will persist in the short to medium term," Shishir Baijal, chairman and managing director of Knight Frank India, said.

Mumbai stood ninth with Rs 302 per sq ft per month rent in the APAC region.

Office rental market study finds Delhi-NCR as 6th most expensive place in Asia Pacific

Bengaluru stood 19th on the list and is one of the least expensive prime office markets in the APAC region.

www.moneycontrol.com

 

[ST1976]

https://www.forbes.com/sites/ellensh...-in-the-world/
https://www.forbes.com/sites/ellensh...-in-the-world/

The Five Most Expensive Cities In The World

To buy a 970-square-foot apartment in Hong Kong, Mumbai, Beijing or Shanghai would take more than 30 years for a household with a median income, according to a recent report by Oxford Economics which looked at price-to-income ratios around the globe.

Here are five most expensive real estate markets in the world--only one of which isn't in Asia.

5. London

London's property prices are severely unaffordable to most residents after decades of growth. Since 2013, London's property prices have increased at a double-digit rate every year. Average home prices in the city have gone from £257,000 in 2006 to £474,000 in 2016, an 84% increase.

4. Shanghai

One of China's hottest property markets, Shanghai's real estate prices rose as much as 40% last year and were up 5% a single month last August. Housing prices have been difficult to clamp down on. Spooked by a weak domestic stock market in 2015, many investors poured into the property sector, seeing it as one of the few options left for favorable returns.

3. Beijing

The most expensive housing market in mainland China, the average home price in Beijing is now $5,820 per square meter, according to the Municipal Commission of Housing and Urban-Rural Development. In September, average home prices in Beijing rose nearly 30% year on year. By comparison, prices in China's major cities rose about 11%.

2. Mumbai

Located on a narrow peninsula, Mumbai is now home to some of the world's most expensive real estate. As Quartz notes, Mumbai's house price-to-monthly income ratio "is the highest among major Indian cities." And as the country accumulates wealth, developers have been struggling to find building sites in the crowded city where millions still live in densely-packed slum

1. Hong Kong

Holding on to its rank as the most expensive housing market in the world for the seventh year in a row is Hong Kong. The median home price was 18.1 times the median annual pretax household income last year, according to a recent annual report from Demographia. Though a small improvement from the year before when home prices were 19 median household income, Hong Kong still ranks as "severely unaffordable" the report said.

How much square feet of property you could buy with $1 million in different cities is a key indicator that can tell how expensive the city’s real estate is. According to Knight Frank’s The Wealth Report 2023. Monaco continues its reign as the world’s most expensive city where US$ 1 million can get you 17 square metres of space, followed by Hong Kong (21 sq. mt.) and New York (33 sq. mt.) in 2022. In 2022, the strong currency rewarded the US dollar based buyer with two extra square metres for their money compared with a year ago. As of today, $1 million is equal to approximately Rs 8.25 crore (Rs 82 to a dollar)

Comparatively in Mumbai, one can purchase 113 sq. mt. of prime residential real estate, making the city affordable by 13% (in dollar terms) since 2018. Mumbai is the 18th most expensive prime residential market in the world. In Delhi, one can purchase space of 226 sq. mt and 385 sq. mt. in Bengaluru of prime residential real estate with an increase of 12.43% and 71.87% respectively since 2018.

https://www.financialexpress.com/business/investing-abroad-mumbai-delhi-or-hong-kong-how-much-real-estate-can-1-million-buy-find-out-3000243/

 

[ARMalik]

What about the Lumber-1 Pakistan Army DHAs? They have to be the most expensive in the World cause these DHAs are so good that the pollution and leaking sewerages there make it better than living in Switzerland.

 

[ST1976]

Can't buy a home in Mumbai? Blame the NRIs

Mumbai: If you're wondering why the property rates in Mumbai aren't going down, blame it on Non Residential Indians (NRIs). With the rupee falling against the dollar every day, Indians living abroad have increased their investment in the country and especially in Mumbai, meaning that the expected fall in property rates following the recent dry period in the real estate market has not materialised.

According to a real estate source, the real estate prices in Mumbai for a person staying in the Middle East are 25-30 per cent less than what an Indian would pay. Prakash Rohera of Khar-based Kkarma realtors said, "I know about clients from the Middle East and other western countries who were earlier ready to shell out 1 crore but have now hiked it to 1.30 crore. Some don't even mind going as high as up to 1.60 crore. NRIs are investing heavily in Mumbai."

"Just a few months ago, builders were chasing clients to buy property, and everyone was expecting the property prices to come down, but the uncontrollable inflation means that most builders are now getting calls from NRIs who want to invest. Why will builders reduce the prices when they are making their share of money anyway?" explained a broker, on condition of anonymity.

Meanwhile, a property exhibition that's being organised in Dubai later this week is already flooded with calls from Indian builders as well as NRIs. A spokesperson for the exhibition said, "The number of builders from Mumbai participating in the exhibition is 15 per cent higher than in earlier years. For NRIs, this is like a sale. The property price has fallen by nearly 25 per cent due to the devaluation of the rupee. We're expecting good business this time."

Manohar Shroff, secretary, Maharashtra Chamber of Housing Industry, Navi Mumbai, also claims the falling rupee is helping to boost the sale of properties in Mumbai. "The increased investment by NRIs has increased sales," he said.

Realty expert Ajay Chaturvedi opines, "There's a slowdown in many western countries, but their currency is still stronger than ours. The falling rupee is making it easy for NRIs to invest here. They all plan to return to India someday, so why not invest in Indian properties," he said.

Can't buy a home in Mumbai? Blame the NRIs
.
=> https://www.ndtv.com/mumbai-news/cant-buy-a-home-in-mumbai-blame-the-nris-488545

 

[ST1976]

Bangalore hires more NRIs than other cities: Study​

BANGALORE: Among Indian cities, Bangalore hires the highest proportion of NRI professionals.

In the January-March 2012 quarter, NRI professionals were 29% of the total number of lateral hires (people with more than three years of experience ) in Bangalore. In Delhi /NCR, this was 27%, in Mumbai 26%, in Hyderabad 18% and in Chennai and Kolkata 16% each, says a study by MyHiringClub, a global recruitment tendering platform. "Overall hiring activity was not good in the final quarter of the last financial year, but the quantum of NRI hiring has gone up. IT, pharma and healthcare companies prefer to hire candidates with international exposure,'' says Rajesh Kumar, CEO of MyHiringClub. Many of these are companies that are expanding globally and therefore need to understand global practices and market specificities , which NRIs do.

The study finds that NRI professionals accounted for 21% of total lateral hiring in India during the quarter, a 5 percentage point increase over the previous quarter's 16%. The IT &ITES sector has seen the maximum number of NRI hiring at 23%. Pharma and healthcare accounted for 21%, FMCG 18% and infrastructure 11%. Bangalore has long been the preferred choice for NRIs. Third party hirers say 7 out of 10 candidates who want to relocate to India ask for vacancies in Bangalore. "If candidates do not have specific compulsions, based on factors like ageing parents, spouse located elsewhere, bought a home in a different city, children' s school admissions etc, most of them prefer Bangalore,'' says B S Murthy, CEO of executive search firm LeadershipCapital .

Ajay Dutt, business head at Aim Plus Staffing, says Bangalore is the top priority destination for a majority of returning professionals. "The job opportunities are the highest here. Also, 60% of NRIs who are looking to return are techies and being in Bangalore gives them an edge,'' he says. Kris Lakshmikanth, CEO of HeadHunters, say that in most cases, the NRI preference is for city close to their hometown and for Bangalore.

"Bangalore often becomes the only choice for candidates who have their origins in Kolkata, Bhubaneshwar, Lucknow etc. It's got great weather, it's neutral, relatively more safe to live and work and it's cosmopolitan,'' he says. India Inc is expected to hire around 35,000 "home-coming'' Indians during fiscal 2013. Some 946 employers from 11 industry segments across six cities participated in the MyHiring Club study.

Bangalore hires more NRIs than other cities: Study - Times of India

India Business News: NRI professionals accounted for 21% of total lateral hiring in India during Jan-March 2012 quarter, a five-percentage-point increase, says a study.

timesofindia.indiatimes.com

 

[ST1976]

https://www.forbes.com/sites/ellensh...-in-the-world/
https://www.forbes.com/sites/ellensh...-in-the-world/

The Five Most Expensive Cities In The World

To buy a 970-square-foot apartment in Hong Kong, Mumbai, Beijing or Shanghai would take more than 30 years for a household with a median income, according to a recent report by Oxford Economics which looked at price-to-income ratios around the globe.

Here are five most expensive real estate markets in the world--only one of which isn't in Asia.

5. London

London's property prices are severely unaffordable to most residents after decades of growth. Since 2013, London's property prices have increased at a double-digit rate every year. Average home prices in the city have gone from £257,000 in 2006 to £474,000 in 2016, an 84% increase.

4. Shanghai

One of China's hottest property markets, Shanghai's real estate prices rose as much as 40% last year and were up 5% a single month last August. Housing prices have been difficult to clamp down on. Spooked by a weak domestic stock market in 2015, many investors poured into the property sector, seeing it as one of the few options left for favorable returns.

3. Beijing

The most expensive housing market in mainland China, the average home price in Beijing is now $5,820 per square meter, according to the Municipal Commission of Housing and Urban-Rural Development. In September, average home prices in Beijing rose nearly 30% year on year. By comparison, prices in China's major cities rose about 11%.

2. Mumbai

Located on a narrow peninsula, Mumbai is now home to some of the world's most expensive real estate. As Quartz notes, Mumbai's house price-to-monthly income ratio "is the highest among major Indian cities." And as the country accumulates wealth, developers have been struggling to find building sites in the crowded city where millions still live in densely-packed slum

1. Hong Kong

Holding on to its rank as the most expensive housing market in the world for the seventh year in a row is Hong Kong. The median home price was 18.1 times the median annual pretax household income last year, according to a recent annual report from Demographia. Though a small improvement from the year before when home prices were 19 median household income, Hong Kong still ranks as "severely unaffordable" the report said.