London and Monaco are Europe's Most Expensive Cities for Residential Property Buyers
London and Monaco are Europe's most expensive cities for residential property buyers. Prices in the Baltics have risen to the same level as capitals such as Copenhagen, Berlin, Munich, Stockholm, Vienna, and Frankfurt.Western Europe generally suffers from another, different disadvantage: High taxation. There are high rental income returns to be earned in Amsterdam and Paris (8.25% in both), in Munich (7.80%) and Brussels (7.53%). But all four cities are high tax environments (but so too is Poland).
The tiny principality of Monaco is the most expensive location to buy an apartment in Europe at around €24,900 per square metre (sq. m.). Closely on its tail is Prime Central London, where 120 sq. m. super-luxury apartments can cost £1,170,000 (€1,742,656) or £9,750 (€14,522) per sq. m.
Apartments of 120 sq. m. in other luxury areas of Central London are likely to cost £580,000 or £4,833 per sq. m. (€863,880 or €7,199). The large difference is explained by London's highly segmented top-end market, with super-luxury apartments in absolutely prime areas commanding considerable premiums. Paris and Amsterdam follow London. A 120 sq. m. apartment in either of these cities has an average purchase price of €800,000 (€6,667 per sq. m.).
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