From Monaco to Hong Kong: the world's most exclusive addresses

While many global cities struggle with space constraints, the absolute top of the real estate market reveals what happens when scarcity determines price. From newly reclaimed land in Monaco to the green hills above Hong Kong: these locations command prices that far exceed the regular housing market. MASTERS presents five of the world's most expensive residential neighbourhoods.

1.   Mareterra, Monaco

Space is a scarce commodity in Monaco. Mareterra therefore represents a remarkable solution: creating new land in the Mediterranean Sea. The project added approximately six hectares to Monaco, expanding its total territory by roughly three percent. The new district officially opened on 4 December 2024 and combines residential units with green space, shops, a marina and a public waterfront boulevard.

A striking feature is Le Renzo, a residential building directly on the water with forms that reference a ship, designed by Italian architect Renzo Piano.

What primarily captures attention, however, are the property prices.

According to real estate advisor Savills, the average apartment price in Larvotto, the district where Mareterra is located, stood at €97,563 per square metre in 2024. Mareterra's arrival played an important role in this. A three-bedroom apartment in Mareterra was offered in 2026 for more than €60 million. Original units in the project sold for amounts ranging from approximately €16 million to nearly €500 million, according to experts.

2. The Peak, Hong Kong

High above Hong Kong's financial centre lies The Peak. The green hillside has been one of Asia's most sought-after residential locations for generations. Many homes at The Peak overlook Victoria Harbour and Hong Kong's skyline, a view visible from only a limited number of locations.

It is precisely this limited supply that makes property sales exceptional. In 2025, a penthouse in the Mount Nicholson complex sold for approximately €66.9 million. The sale price came to roughly €171,000 per square metre and set a new record within the Asian market for new-build apartments, according to real estate advisors at the time.

The Peak demonstrates how powerfully location and scarcity can reinforce each other. New land is barely available and apartments with unobstructed views over the city come to market only sporadically.

3. Billionaires' Row, New York

On the south side of Central Park, a series of extremely tall residential towers together form the area known as Billionaires' Row. In recent years, various high-rise residential towers have been built around West 57th Street and Central Park South.

Midtown Manhattan, where Billionaires' Row is located, was the most expensive part of New York in 2025 for apartments with a sale price above €8.6 million. The average price came to roughly €43,000 per square metre.

The absolute top sits considerably higher. In 220 Central Park South, one of the most renowned residential buildings on the park, an apartment sold in 2025 for approximately €71 million. The building has since become one of Manhattan's most exclusive residential addresses.

4. Nassim Road, Singapore

On Nassim Road, everything revolves around space. The tree-lined avenue lies a short distance from Orchard Road and Singapore Botanic Gardens and is known for detached villas on exceptionally large plots of land.

Many of these homes fall into the Good Class Bungalows category: a strictly regulated housing type found in only a few areas of Singapore. The combination of large grounds, considerable privacy and minimal new supply makes Nassim Road one of the city's most expensive residential locations.

In April 2026, a property on more than 1,300 square metres of land sold here for approximately €44 million. The land price came to roughly €33,000 per square metre, a record within the Good Class Bungalows market at the time.

5. Mayfair & St James's, London – centuries of scarcity

Where Monaco creates new land and Manhattan builds upwards, London derives its value from what has stood there for centuries. Mayfair and St James's rank among the most sought-after parts of the British capital, within walking distance of Hyde Park, Buckingham Palace and West End's principal shopping streets.

According to real estate research firm data, Mayfair and St James's achieved the highest average sale price among surveyed neighbourhoods in London's upper market in 2025. Converted to euros, this came to approximately €30,600 per square metre. Notably, prices in these areas also rose by 4.8 per cent compared to the previous year.