10 Most Expensive Places to Buy Property

New York: $1 million buys 40 square meters of luxury property here on average

New York is sitting fairly when it comes to political and economic stability. It is one of the largest metropolitan cities in the world. The lavish urban lifestyle and spectacular infrastructure attracts wealthy to invest in property here. The rental laws in U.S are 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 central authority decides the tax on rental income (Federal tax rate), which is progressive in nature. Additionally the various state governments decide their own tax rate accordingly. The space of 40 square meters in Hong Kong will cost you 1$ U.S million.

Sydney: $1 million buys 41 square meters of luxury property here on average

The largest and the most sought after city in Australia, Sydney is known for premium properties and flourishing economy. Luxury properties in Sydney offer outstanding views of Sydney Harbour and the Pacific Ocean. The city provides the property owners a much relaxed tenant neutral environment, where in home owners are free to negotiate rents. Any further increase has to be approved by a committee. However, property seekers in Australia should pay special attention to the country’s strong tax system. The non-residents are taxed on rental incomes ranging from 29 percent to 45 percent, while there is no tax on properties getting by inheritance. The space of 41 square meters in Hong Kong will cost you 1$ U.S million.

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