10 Most Expensive Places to Buy Property

Paris: $1 million buys 42 square meters of luxury property here on average

The fashion capital of the world boosts of a stable economy and tourism. An increasing number of people want to own a space in this lavish up front city of the world. In the capital city of France, Paris, the real estate market is continues to flourish because of healthy economy and the tax charge on rental income is low for foreign nationals. Paris has a friendly property laws and the taxes on gross rental income for any foreign national is at 10 percent on $1 per month. With friendly property laws and more number of luxury apartments and mansions, Paris becomes one of the most attractive cities to buy property. The space of 42 square meters in Hong Kong will cost you 1$ U.S million.

Moscow: $1 million buys 43 square meters of luxury property here on average

The capital city of Russia, Moscow, is vibrant in all forms of life. Moreover in Moscow an extra 18 percent of value added tax (VAT) is required to buy a property. Adding to it, 2 percent of brokerage fee is required on property sales of over $2 million and lesser sales are required to pay 5 percent brokerage fee. In Russia, both local and foreign nationals can buy property, as stated in county’s Land Code of 2001. The space of 43 square meters in Hong Kong will cost you 1$ U.S million.

Shanghai: $1 million buys 46 square meters of luxury property here on average

World’s most populated city Shanghai is one of the most expensive locations for property investment. In Shanghai for a space of 46 square meters, you have to vent some U.S. $1 million. The rental laws are pro-landlord and not governed by rent control laws and the property owners collect the security deposit of three months and advance payment of one month before hand. The space of 46 square meters in Hong Kong will cost you 1$ U.S million.

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