10 Most Expensive Cities to Buy Property

8) Tokyo, Japan

Average Price: $13,855 per square meter

The capital city of Japan is one of the most preferred cities in the world to buy luxury property. Tokyo’s rental laws are known to be pro-landlord, which means, the laws are designed to give more preferences to landlords in lending of properties. According to the law, landlords have an option to demand for deposits up to three months as well as can negotiate on the rent that suits them the most. Moreover, in Tokyo, the rental income tax is comparatively low, which is around 10 percent for non-resident property holders. However, foreign nationals need to pay inheritance tax as applicable.

9) New York, U.S.

Average Price: $ 13,428 per square meter

New York is one of the most sought after city in United States and also an expensive city to buy property. The healthy real estate market of New York offers an average price of $ 13,428 per square meter. Moreover, the rental laws in U.S are considered to be pro-landlord in nature.  Adding to it, potential buyers find it bit difficult to buy property in New York because of its complicated tax system, wherein the tax on rental income (Federal tax rate) is decided by the central authority which is progressive in nature. Additionally the various state governments decide their own tax rate accordingly.