| Ranking | City | Average price per meter square (US$) |
| 1 | Monte Carlo | 47578 |
| 2 | Moscow | 20853 |
| 3 | London | 20756 |
| 4 | Tokyo | 17998 |
| 5 | Hong Kong | 16125 |
| 6 | New York | 14898 |
| 7 | Paris | 12122 |
| 8 | Singapore | 9701 |
| 9 | Rome | 9166 |
| 10 | Mumbai | 9163 |
I saw the above table in newspaper today – Top 10 most expensive apartments in cities worldwide.
Some people complaint that properties prices in Penang and Kuala Lumpur is too high. Some people says Singapore house prices are too expensive. But if you compare the apartment price of Singapore (ranked No.8) to the likes of London and Moscow, you will see that there are still rooms for the properties prices to grow.
I do not know why is the average apartment price based on per meter square of Monte Carlo could be so high. I did a search in Wikipedia and the results came back to be:
Monte Carlo is known for its casinos, gambling, glamour, and for sightings of famous people. The permanent population is about 3,000. Monte Carlo quarter includes not only Monte Carlo proper where the famous Le Grand Casino is located, but also the neighborhoods of Saint-Michel, Saint-Roman/Tenao, and the beach community of Larvotto. It borders the French town of Beausoleil (formerly known as Monte-Carlo-Supérieur).Monte Carlo is home to most of the Circuit de Monaco, on which the Formula One Monaco Grand Prix takes place; it also hosts world championship boxing bouts, the European Poker Tour Grand Final and the World Backgammon Championship as well as fashion shows and other events
Ok, so we got the keywords: casinos, gambling, glamour, famous people, beach, formula-1, boxing, fashion shows. Are these the reasons the apartment price there is so expensive? If it is so, I really have to salute Singapore government because what they are doing in recent years are in the right way! Singapore just held a F1 race last year, and they are now building a casino. Singapore is ranked No. 8 currently, we will not be surprised if some day in future, Singapore’s property price will surpass Hong Kong and Tokyo. (Moral of the story: Invest in Singapore properties!)
Look back to Malaysia. Casinos? A no no. There is only one – Genting. You cannot have the 2nd one. Glamour? Famous people? Do we have it? Oh ya, I remember Andy Lau’s wife is a Malaysian. I believe sometimes he might just drop by to visit her. So, is it counted as famous people? Ha ha. Formula 1, yes, we have it, but the track is in a ulu place. Boxing? Fashion shows? I have never heard of any international boxing competitions or fashions shows held in Malaysia. Anyway, even if the organizers intend to hold it in Malaysia, I wonder if the authorities will permit these due to the very conservative nature of our government and Malay race. So, how do you predict Malaysian apartment prices? Will Penang be the 2nd Hong Kong? Will the price shoot up to US$ 16125 per meter square one day?
you lulu la, malaysia also got famous designers like Zang Toi, Melissa Looi having fashion show here...
ReplyDeleteI think we should not try to emulate other countries in order to get our property price to increase. Monkey see monkey do never really turn out well. Instead, we should be capitalizing on our unique plus points and get famous in our own quirky way.However, I wish not the high prices in Monte Carlo etc happening in Malaysia. I have not yet got a house and I dearly want to get it as cheap as possible. Do lets stay ulu, haha... (in terms of real property and NOT in terms of knowledge or expertise).
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