2018 is officially here and in full swing. Regardless of your thoughts on 2017, we are now looking forward to a bright and optimistic year. And if you’re in the market for a new home, or if you just enjoy learning about the market in general, then I’ve got some interesting information for you. I’ve compiled a list of some of the most expensive cities to live in this year; if you’re looking for a new home and you’ve got a limited budget, you may want to avoid these areas.
First up on our list is Melbourne, Australia. Known as one of the continent’s more laid-back cities, Melbourne has seen its median house prices rise steadily since 2001. The city currently has a median multiple of 9.9, and with good reason. The city has almost everything there is to offer. With its variety of multicultural restaurants and contemporary nightlife attractions, Melbourne has all of the fixtures of a modern-day metropolis, while also retaining a sense of historic beauty, both Aboriginal and Australian.
Santa Cruz, California
Next up on the list is a domestic city, located on the center coast of California. According to Business Insider, Santa Cruz, coincidentally, is the country’s least affordable market with a median multiple of 10.4. It should come as no surprise that Santa Cruz is so highly priced, considering that California is one of the most expensive states to live in. If you do manage to find yourself as a permanent resident of the city, you can engage in a bevy of activities, like enjoying a stroll down the Santa Cruz Beach Boardwalk or the Surfing Museum.
Hong Kong, China
For our final entry, we take a trip all the way over to Asia, on the coast of China, to Hong Kong. Hong Kong has widely been considered one of the world’s most expensive markets for quite some time now, and 2018 will continue that trend. With a median multiple of 19.4, it’s no wonder that the city is so expensive.
Wherever you decide to call your home, make sure to do a bit of research so that you don’t end up in any of these incredibly expensive markets.
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