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The report said Hong Kong remains among the most expensive cities globally thanks to its property prices.
Previously, London ranked in fourth place in 2023 and second in 2022.
This return is considered to be a bit surprising, according to the report.
Shanghai
Shanghai ranks in fourth place, a significant drop when compared with previous years.
Shanghai was previously in first place for two consecutive years in 2021 and 2022.
The municipality was unseated by Singapore in 2023, which moved it to second place.
A few drivers cited by the report for Shanghais changing position includereal estate challengesand softening consumer confidence.
Monaco
Monaco rounds out the top five, bumping up from sixth place in 2023.
Monaco has extremely high property prices coupled with strong demand and limited availability.
Just how much higher are these properties compared with elsewhere?
According to the report, the answer is 234% higher.
The Switzerland citys last appearance in the top 10 was in 2022, where it held seventh place.
As the star of this years top 10 rankings, how did Zurich do it?
Thank theresilient Swiss franc.
As noted in the report, it was the best-performing G10 currency of 2023.
This makes New York thesole North American cityfor the top 10.
Like Zurich, Paris is experiencing a steady climb back up into the ranking.
The city leapt five positions to reenter the top 10.
Sao Paulo
Does Sao Paulo in ninth place sound like deja vu this year?
The Brazilian city holds steady in the same rank from 2023.
The report said estimates reveal that double the ultra-high net worth individuals reside inSao Paulocompared with Rio de Janeiro.
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