Most expensive cities in 2008

London, New York and Moscow are the world’s most expensive cities for residential apartment buyers.
Prime Central London are among the priciest in the world, at US$21,800 to US$36,200 (£10,960 - £18,214 or €16,305 - €27,095) per sq. m. Prime central London include Belgravia, Chelsea, Mayfair, Notting Hill, Knightsbridge, Regent's Park, South Kensington, St. John's Woods, and St. James.

New York comes in second place with property prices in Upper Manhattan between US$13,270 and US$22,923. Apartment prices in Lower Manhattan are around US$12,510 – US$20,456.

Moscow comes in third place with apartment prices ranging from US$10,764 to US$20,506.

Other cities in Europe that are among the top ten most expensive cities for condominium buyers are Paris, Barcelona and Geneva. Condominium prices in Paris are around US$12,930 to US$18,070 per sq. m.

In Spain, prices of flats in Barcelona are between US$9,160 and US$9,870. Prices of apartments in Madrid are lower than Barcelona, at US$6,535 – US$ 8,000.

In Switzerland, prices of flats in Geneva are around US$6,870 - US$10,400 per sq. m. Prices in Geneva are higher compared to Zurich, US$5,900 – US$9,830.

Of the three German cities included in the study, Munich is the most expensive with prices of flats at US$3,485 – US$3,700 per sq. m.; followed by Frankfurt at US$2,360 – US$3,300 per sq. m. Property prices in Berlin are still relatively subdued at US$1,840 – US$2,600 per sq. m.

Residential apartments in Istanbul, Turkey are among the cheapest in Europe at around US$1,850 to US$2,500 per sq. m.