Prices for Standard Homes
London & New York…
How much is one sq.m. of a standard 2-bedroom apartment when measured in Big Macs? We converted US$ prices per sq.m. into Big Macs with the help of the Big Mac Index, as published by “The Economist”. For more details, see our Methodology.
In Central London, one sq.m. of a two-bedroom standard apartment is equivalent to 7,342 Big Macs, the most expensive city in the world, when we consider Big Mac as the currency that best matches purchasing power parities. Ranking second, in New York, one sq.m. of a standard apartment is equivalent to 4,123 Big Macs. These results are confirmed by the fact that the United Kingdom and the USA are top destinations for overall wealthy families, on a global scale. London and New York are rivals competing for the title of leading world destination for business and wealthy families! The capitals from the First World wealthiest countries are naturally found in this ranking, as is the case of Tokyo and Paris. Chinese and Russian cities are also a phenomenon, ranking top in terms of residential prices. Recent capitalist reforms led to a new wealthy status quo, raising home prices to the top of the ranking. This is also why Russians and Chinese look abroad for residential homes, as local markets tend to be too high!