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New York City is expensive — but not that expensive compared to Monaco, Hong Kong and five other cities

A New York luxury apartment is a pipe dream for most of us — but the city didn’t even crack the top five most expensive places to buy a pricey home.

The most expensive homes in New York City average between $2,030 and $2,240 per square foot — making Gotham eighth on the worldwide ranking.

Topping the list is tiny Monaco, where the high-end residences range between $5,350 and $5,920 per square foot. Rounding out the top seven is Hong Kong, London, Geneva, Paris, Singapore, and Moscow, according to a report by Knight Frank, a London property consultancy.

The homes included in the report comprised the top five percent of each city’s market in all categories of residence.

New York’s relative affordability for the global elite is a cyclical thing, experts say.

“The cost of entry for the ultra high-end end buyer is so low right now that we’re seeing almost a new market pop up to specifically target” the super-rich, said Jonathan Miller, president of Miller Samuel, one of New York’s top real estate research firms. “The high-end of the market is being scooped up faster than ever by buyers from around the world at prices as high as $40 million and up.”

New York is home to the world’s largest population — 7,500 — of people with more than $30 million in liquid assets

“There is so much wealth here that it doesn’t phase me anymore,” said CORE broker Jarrod Guy Randolph, who sells the high end in Manhattan. “New York is synonomous with money. That’s our standard. All my buyers are all cash — whether paying $3 million or $30 million.”

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