Phuket–the real deal

Of the 22 markets listed in a new property report targeting wealthy property buyers in Europe looking for a residence abroad, Phuket and Mauritius are the real deals at 3,000 euro a square meter.  A used home in Monaco costs on average of 45,000 euro a square meter, or about $57,000, making the principality the most expensive market in the world.

For jaw dropping prices and extravagance, Monaco is still the champ, according to the latest Prime International Residential Review from Chesterton Humberts. A used home in Monaco costs on average of 45,000 euro a square meter, or about $57,000, making the principality the most expensive market in the world.

In contrast to the opulent markets of the Mediterranean, New York wades in at a fairly pedestrian 15,500 euro a square meter, with Paris a bargain at 13,500, according to Chesterton Humbert. Of the 22 markets listed, Phuket and Mauritius are the real deals at 3,000 euro a square meter.  

One thing is not in dispute: Even with a sluggish economy, prices in the top spots are unlikely to drop any time soon. The number of millionaires around the world grew 14 percent in 2009, and their total worth jumped 11.5 percent, according to Boston Consulting Group’s 2010 Global Wealth Report. In China, Malaysia and Singapore the number of millionaires jumped 35 percent, Chesterton notes.

Prime international residential costs table