Monaco remains the world’s most expensive residential location, followed by London, according to Knight Frank and Citi Private Bank.

According the report’s global index of luxury home prices, $US65,600 per square metre is the average host of a house or apartment in the tiny European microstate.

Monaco’s biggest deal last year was the purchase of La Belle Epoque, a 17,500-square-foot (1,600-square-meter) penthouse, for 240 million euros ($340 million) from Christian and Nick Candy in September

However several locations saw significant falls in prime property prices, notably Dublin and Dubai with falls of 25% and 10% respectively.

Source: Propgoluxury Via Bloomberg

La Belle Epoque penthouse

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