11 Most Expensive Cities to Buy a Home
Bangalore: Over the years, with the increase in the number of potential buyers the real estate market is witnessing healthy property investments, especially in luxury property sector. Below listed are the most expensive cities to buy property that includes Mumbai, Monaco, Hong Kong and so on, as listed by Rediff.com.
Average Price: $ 990-1100 per square feet
To start with India, the financial hub of India is one among the most expensive Indian cities to buy property. Mumbai city is also one favorite hotspot for foreign nationals as well as for buyers who seek luxury properties. The city offers an average price of $ 990-1100 per square feet for real estate properties. However, in India the rental income tax is 20 to 30 percent. Mumbai is one of the costliest cities to rent property also. Residential property in Mumbai comes with a price tag of nearly 57000 per square feet, according to Knight Frank. The property prices in the city is expected to go up by another 2 to 4 percent this year and 10 percent by 2014.