Each year there are more people who want and can afford to buy luxury properties. Thus, with the rising demand, the property prices are rising as well. Let’s take a look at some of the most expensive real estate markets in the world.

Number #5 is Moscow, Russia. The average price per square foot is $4,250, and the average property size is 4600 sq.ft. Ostozhenka street is considered the most expensive.

Flickr Creative Commons: Tatters

Number #4 is Paris, France. The price per square foot is $4,400 and the property size is 10,800 sq.ft.

Flickr Creative Commons: Jan

The 3rd place holds London, U.K., where the average property size is 7,900 sq.ft., and square foot costs $5,300.

Flickr Creative Commons: David Holt

Next on the list is Tokyo, Japan where the average price per square foot is $7,600 and the average property size is 16,000.

Flickr Creative Commons: DozoDomo

And the #1 goes to Hong Kong, China. The average price per square foot is $11,000! And the average property size is 5,200 sq.ft. Since 2008, prices doubled due to low mortgage and interest rates.

Flickr Creative Commons: Roger W