The list of the world’s most expensive cities in 2025 has been compiled, reports TimeOut.

The list is calculated based on the average square meter price of a “prime” 100- to 200-square-meter apartment. And topping the list is Monaco, where apartments of that size often exceed $38,800 per square meter, according to the Henley & Partners rating.

In second place is New York, where the price of a prime apartment averages at $27,500 per square meter.

Hong Kong, London, Saint-Jean-Cap-Ferrat, Paris, Sydney, Palm Beach, Miami, and Los Angeles are also in the top 10.