Monaco overtakes New York as world’s most expensive city
France boasts the most cities on this year's most expensive list © Monaco Tribune
At an average of 38,800 dollars per square metre, or 3.88 million dollars for a 100 m² flat, Monaco has just been crowned the most expensive city in the world.
According to the 2025 report on the world’s richest cities, recently published by Henley & Partners in collaboration with financial intelligence firm New World Wealth, New York has been relegated to second place with $27,500/m², followed by Hong Kong ($26,300), London ($24,000) and Saint-Jean-Cap-Ferrat ($21,200). The top 10 also includes Paris (in 6th position), Palm Beach, Miami, Los Angeles… but none of them compete with the Principality.
Over 40% of millionaires in Monaco
The study, which each year analyses local spending and high-end real estate prices (between 100 and 200 m²), draws a clear conclusion: Monaco is now the world’s leading refuge for the very wealthy. More than 40% of residents are millionaires, “the highest rate in the world,” says Henley & Partners. No income tax, maximum security, a luxury eco-neighbourhood, yacht clubs, ultra-luxury shops, glamorous social events… All the ingredients that attract big money.
Henley & Partners draws on over a decade of data and monitoring of wealth migration. In their view, the Principality remains the destination of choice for the world’s ultra-rich, a unique, untouchable and inimitable market.
Strong showing by the Riviera
While Paris clings on to sixth place, Saint-Jean-Cap-Ferrat, a highly coveted enclave on the Riviera, is ahead in fifth place worldwide. Cannes, Antibes, Nice and even Èze figure in the top 20. The Riviera’s ranking confirms the region’s growing appeal for wealthy individuals in search of prestige and discretion.
As for the United States, Palm Beach, Miami and Los Angeles follow New York in the rankings, reflecting a highly concentrated luxury property market. But none can compete with Monaco, whose record prices are unparalleled elsewhere in the world.