Hong Kong remains the most expensive city in the world: the price level in its 107% higher than the average for the 10 largest cities, according to a new index World Class Cities Index international agency Savills. Hong Kong is also 63% more expensive than in London, which occupies the second place in this ranking. Followed by Tokyo, Singapore and Paris. In Singapore, the price increase of 123% was recorded for the last 5.5 years. Thus, the 7 th place in the ranking, Singapore is held in 2009, in 2011 he moved to the 4th. On the other side of the table ranking is Mumbai, the cheapest city in the classification. Here, the level of prices 43% lower than the average for the 10 largest cities. But he is the main challenger to the leading position, since it demonstrates the most significant growth during the period (154%), outpacing even Shanghai (143%). Index World Class Cities Index, which is calculated for the 10 largest cities in the world and showing the price fluctuations in the residential real estate since 2005, is designed to analyze real estate market performance in a truly global context. Since December 2005, the average value of the index rose by 77%, and this happened despite the negative impact of the financial crisis. HomesOverseas.ru
