finance
Monaco Leads as World's Priciest Luxury Real Estate Market with $1 Million Buying 16 Square Meters
Monaco remains the most expensive luxury real estate market per square meter, where $1 million purchases just 16 square meters, according to the Knight Frank Wealth Report. Global prime property prices rose 3.2% last year, outpacing mainstream housing growth. Cities like Dubai and Tokyo saw significant increases in 2025.
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Luxury real estate prices in Monaco have tightened further, with $1 million now buying only 16 square meters, down from 17 square meters in 2020, according to the Knight Frank Wealth Report cited by CNBC. Monaco ranks as the world's most expensive luxury market measured per square meter. 5 square meters.
9 square meters. 9% growth in mainstream global housing prices, the report stated. Dubai in the United Arab Emirates led with a 25% price increase in 2025 and nearly 200% growth over the past five years.
Tokyo surged ahead with a 58% rise in prices during 2025. Strong price growth also marked Manila in the Philippines, Seoul in South Korea, and Prague in 2025. The Middle East topped global luxury growth last year, driven by Dubai's performance.
Looking ahead, Mumbai in India, Brisbane in Australia, Miami, and Hong Kong emerge as future hot spots for luxury real estate, according to Knight Frank. CNBC reported that luxury markets in most major cities worldwide continue to grow more expensive as the wealthy become wealthier and more mobile. The ultra-wealthy are buying homes globally and moving between cities more frequently.
"Rising tax and growing regulatory pressures are accelerating the global mobility of wealth," the Knight Frank Wealth Report said. Liam Bailey, global head of research at Knight Frank, said the strongest luxury markets combine low supply with strong lifestyle and tax appeal.
He noted that markets like Miami, Milan, and Dubai benefit from attractive tax environments, while New York and London draw wealth for lifestyle and business opportunities.
