10 Most Expensive Cities to Buy Property

3) Hong Kong

Average Price: $19,323 per square meter

The flourishing economic market makes Hong Kong one of the most sought after city in Asia. Besides its strong economy, Hong Kong is an expensive location for luxury real estate. Hong Kong’s real estate market has emerged to be a hot cake and all wealthy investors want to have a piece of it. However, Hong Kong is offering an average price of $19,323 per square meter, as the city has seen a terrific jump of 23.85 percent in the housing prices in the last quarter of 2011 compared to the first quarter, which was 7.14 percent. With the low interest rates and flourishing economy, Hong Kong is one of the favorable cities to buy property. Interestingly Hong Kong doesn’t impose taxes on income or sources coming from overseas.