Monaco Overtakes London On Priciest Homes List

By Kevin Spak,  Newser Staff
Posted Mar 23, 2009 10:50 AM CDT
Late afternoon sunlight is reflected in the windows of a row of houses on January 22, 2009 in London, England.   (Getty Images)
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(Newser) – London has tumbled off its perch atop the list of priciest places to buy residential property, the Financial Times reports, allowing Monaco to swoop in and take the crown. Monaco’s top properties now fetch $68,000 per square meter, compared to $38,000 for London and $22,500 for Manhattan. That’s thanks to a 17% plummet in London prices over the past year; only Hong Kong has taken a bigger beating, with values there down 25%.

Here’s the top 10:

  1. Monaco
  2. London
  3. Manhattan
  4. Moscow
  5. Paris
  6. Tokyo
  7. Hong Kong
  8. Rome
  9. Singapore
  10. Sydney