A new study out from real estate giant Redfin forecasts which real estate markets will see the most expensive homes, condos and townhomes in 2021.
In addition to U.S. cities, the study looks at the highest-rent cities in the world.
1. Tokyo, Japan
Tokyo tops the list due to the high number of international real estate developers building high-priced properties there.
(Redfin)
2. Singapore
Singapore has one of the highest rents in the world, which has a major impact on property values.
(Redfin)
3. New York, New York
The Big Apple has always been a prime destination for international buyers. However, with red tape and visa restrictions in place, the cost of living there remains pretty high.
(Redfin)
4. Stockholm, Sweden
The soaring cost of living in Scandinavia has had a significant impact on how much homes cost there.
(Redfin)
5. London, United Kingdom
The expensive housing stock in London continues to drive up prices in the city.
(Redfin)
6. Calgary, Canada
Housing prices in the second-largest city in Canada continue to dominate rental space.
(Redfin)
7. Hong Kong
The city consistently leads most of these lists, largely because of how expensive it is to rent a home in Hong Kong.
(Redfin)
8. Moscow, Russia
New construction in Moscow has increased supply, driving down rental costs over the past decade.
(Redfin)
9. Los Angeles, California
While the price of housing in L.A. has come down slightly due to strict financing and foreclosure laws, it remains a highly desirable market for developers because of the vast number of home sales in the region.
(Redfin)
10. Munich, Germany
Part of the reason Munich is so expensive is because it is one of the world’s most popular European destinations for real estate investments.
(Redfin)