Monaco Surpasses New York as World's Most Expensive City

Home to more millionaires per capita than anywhere else, over 40% of Monaco's population, Monaco's exclusivity and tax advantages continue to attract the world's richest residents.

According to the newly released World's Wealthiest Cities Report 2025, by Henley & Partners in collaboration with global wealth intelligence firm New World Wealth, Monaco has officially become the most expensive city in the world.

The report lists New York City as the second-most expensive city after Monaco, where prime real estate averages $27,500 per square metre. Hong Kong follows closely at $26,300, London at $24,000 and Saint-Jean-Cap-Ferrat in the South of France at $21,200.

Paris secured sixth place this year, with prime property averaging $20,400 per square metre. France has six entries, including Nice, Cannes, Antibes, and Èze. The US also shows strongly, with New York joined by Los Angeles, Palm Beach, and Miami Beach.

The report's findings, drawn from more than a decade of research into high-net-worth migration trends, underscore the city-state's status as a global haven for wealth.