Mumbai properties among world’s costliest, Bangalore cheap

February 9th, 2009 - 8:41 pm ICT by IANS  

London, Feb 9 (IANS) Despite last year’s terrorist attacks, properties in Mumbai are among the costliest in the world.

While Mumbai is 10th costliest city for properties, Bangalore, India’s so-called technology capital, is the second cheapest place - just ahead of Cairo in a list of 120 cities, according to a study published Monday.

The costliest city for properties is Monte Carlo, where a top-end apartment costs around $47,578 per square metre, followed way behind by Moscow ($20,853 per sq m) and London ($20,756), according to property research group Global Property.

The research, which was based on the average price of a 120 square metre, high-end apartment in the centre of 110 cities around the world, found Tokyo ($17,998) to be the fourth most expensive city in which to buy property, followed by Hong Kong ($16,125).

New York ($14,898), Paris ($12,122), Singapore ($9,701), Rome ($9,166) and Mumbai ($9,163) made up the rest of the top 10 most expensive cities.

At the other end of the scale, Cairo was found to be the cheapest city in the world, with a high-end apartment there costing an average of only $574 per square metre, followed by Bangalore in India at $657 per square metre.

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