Singapore private homes 13th costliest in the world

Guess which country tops the list at US$58,300 per square meter.

Across the Atlantic, many of Europe’s most established prime locations are already feeling the pinch, said latest Wealth Report by the Knight Frank and Citi.

According to the report, Monaco can still comfortably claim the most expensive real estate in the world, but prices there, along with the French Riviera, fell in 2011, in part confirming the impact of the eurozone crisis on market performance. “It is no coincidence that the only two European cities in our PIRI that recorded price increases last year were London and Zurich – both outside the eurozone,” it said.

Singapore meanwhile ranked 13th most expensive real estate even as prices of private homes in 2011 fell by 4.7% to US$25,600 psm.