Real estate has long been a promising way to invest. World real estate is a more valuable asset than all stocks, bonds, and debt securities combined. As of 2022, the total value of global real estate has exceeded $326 trillion. The value of all gold ever mined is estimated at just $12 trillion. Also, statistics show that the value of the real estate increases by 8% annually. This makes residential buildings in stable economic regions an attractive investment opportunity.
Luxury real estate is attractive in terms of living, renting, and resale. Such apartments usually have an ideal layout and location. High-quality construction, proximity to the business center, and great residential infrastructure — are the indicators of the best apartments.
According to Numbeo, the leading countries in terms of average cost per square meter of housing are:
Next, we will talk about the 11 most expensive apartments in the world, which are the best for a rich and comfortable life.
The most expensive house in the world is the Odeon Tower Penthouse in Monaco. Its price is $450 million. Size — 35,500 sq. ft. Back in May 2013, the cost of the penthouse was estimated by Forbes to be $387 million. But today it has grown, which makes this penthouse the epitome of wealth and oligarchic luxury. This is a five-story penthouse located on the roof of one of the highest skyscrapers in Europe. Situated on a 557-foot (170 m) tower, the apartment offers stunning panoramic views of the Mediterranean Sea. The apartment has 5 master bedrooms and 3 staff bedrooms, an exclusive rooftop pool with panoramic views, a private waterslide, a gym, and a spa complex.
The second most expensive penthouse in the world is located in Monte Carlo. The Penthouse in La Belle Epoque is valued at $323 million. The property features 17,500 sq. ft. It is a historic building that was purchased by the Candy brothers in 2006 for a listing price of $16-25 million. The brothers refurbished the property in their unique Candy & Candy style and resold the apartment in 2010 for $323 million. The interior of the penthouse is the quintessence of the best traditions of golden age art. Handmade silk drapery, rare wood furniture, Italian marble — all this makes it one of the most comfortable and glamorous penthouses in the world. The residence has 3 bedrooms and 6 bathrooms, a library, a private cinema, a billiard room, a media meeting room, and a jacuzzi. It is located in one of the most prestigious areas of Monaco. The windows overlook the famous harbor of Monte Carlo and the Palace of Prince Albert.
Another residence on our list is XLV Residence in Emirate Hills. This seven-bedroom apartment is currently one of the most expensive in the Emirate Hills community — over 61 million dollars! It was developed by Select Group, which is known for building deluxe projects like Six Senses Residences, The Palm, No. 9, The Torch, etc. There are two elevators in residence connecting the ground, first, and roof floors. Three-meter windows offer spectacular views of the surrounding area, and 3,300 sq. ft are more than enough to accommodate not only the owner’s family but a lot of guests. The property features nine parking lots and bicycle storage as well.
One of the most famous residences — Residence in One Hyde Park — is located in Knightsbridge, London. It is a large residential and retail complex owned by Project Grande (Guernsey) Limited. There are 86 residential properties here, among which the most famous is the penthouse, for which Nick Candy is asking $241 million, according to Bloomberg. The penthouse has an area of 18,000 sq. ft. The house spans two floors and has five bedrooms, a spa, a home theater, a champagne room, and a wine room for 750 bottles.
The next is the Apartment at 220 Central Park South, New York, priced at $238 million. The purchase of a penthouse in Manhattan was carried out by billionaire and founder of the Citadel hedge fund Ken Griffin. This 24,000-square-foot apartment has made history as the most expensive apartment sold in the United States. The four-story residence is part of a 66-story skyscraper and has 16 bedrooms, 17 bathrooms, five balconies, and a terrace overlooking Central Park.
No less interesting is the Penthouse at No.1 Grosvenor Square. This is an apartment located in London in the former US Embassy building at Grosvenor Square, 1. Here, Joseph P. Kennedy served as the American ambassador to the UK from 1938 to 1940 and built a replica of the Oval Office in the building. The penthouse is currently owned by an anonymous buyer who bought it for $185.5 million. It has a huge area with a heated swimming pool and a gym.
Slightly less expensive is the Penthouse at Ritz Carlton Battery Park, located in New York. According to the Wall Street Journal, it sold for $118.5 million. The massive penthouse occupies the top two floors of the Ritz Carlton and has 15,434 sq. ft. of interior space and 2,193 sq. ft. of the terrace. These are three apartments combined. The rooms have a lot of free space, and natural light penetrates through the panoramic windows. The total window area is almost 400 feet. The owner can enjoy stunning ocean views from the terraces, bedroom, or bathroom.
The 8th place takes the Apartment in One57, New York, $100.4 million. This is a duplex penthouse at the top of the famous glass skyscraper. It offers stunning views of Central Park, the Hudson, the East River, and almost every attraction in New York. The owner of the apartment can enjoy a spa, a pool, dining, and other services at the Park Hyatt, New York. The apartment has six bedrooms and bathrooms with two additional toilets.
Penthouses under construction in One Sydney Harbour, Sydney. It is called the house with the best view in Australia — a total of 17,222 sq. ft. of living space. Its panoramic windows offer stunning views of Sydney Harbour. The house is not yet completed, and its price is already $98 million. The residence will consist of a main penthouse and adjacent apartments and will occupy the top three floors of the tallest of the three Lendlease residential towers. This will include luxury bedrooms, a spa, a rooftop pool, and a gym. There is already a buyer — an Australian who wishes to remain incognito.
The following apartment — the Penthouse in Mount Nicholson, Hong Kong — also has a great view. It was acquired by the daughter of Chinese magnate Lau Chauin. The property value was $82.2 million (approximately $18,100 per sq. ft. — one of the most expensive properties sold per sq.ft.). The area of the apartment is 4,544 sq. ft. Mount Nicholson is located 430 meters above sea level. It includes 48 apartments and 19 houses. The complex offers a beautiful view of the port of Hong Kong.
The world Residence at Wallich Residence, Singapore, closes the top 11 most expensive real estate. Its cost is $78 million, and it is the most expensive apartment in Singapore today. The owner of the residence is billionaire James Dyson. The house has five bedrooms, offering stunning views of the city’s business district and Marina Bay.
Conclusion
The status and price of real estate are determined primarily by the location of the apartments. The most profitable in terms of investment are houses in the financial centers of the world, for example, Dubai. Real estate in Dubai is perfect for living and working. Here are the offices of the world’s largest companies, as well as the best shops and restaurants, gorgeous views, comfortable beaches, and the best complexes for rest and relaxation.
You can also buy apartments in Dubai to generate passive income. The city is developing rapidly, and apartments for rent are in great demand. Opt for more practical options that are suitable for ex-pats. Real estate in Dubai is growing in value, so it can serve as an asset that you can resell at a better price in the future.