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The Price of Luxury: The price of a luxury home in Portola Valley vs. Paris will surprise you.

December 01 2016
December 01 2016
By

What Does a Luxury Home Cost Around the World Compared to Peninsula Cities?

By now we’re all used to the sky-high price of real estate on the Peninsula. We get it—it’s a great place to live! The weather is temperate, the economy is booming, schools are excellent, people are smart and we’re within driving distance of both beach and mountains. It’s no wonder so many people want to live here, and are willing to pay the price.

But how do Peninsula prices compare to some of the other fabulous places to live in the world? Christie’s International Real Estate recently published some sold numbers for price per square foot for luxury homes in several global economic hubs. We thought it would be interesting to compare how expensive it is to own a home in Portola Valley vs. Paris. We defined luxury as less than five years old, $10M and above in Woodside and Atherton, and $5M and above in Palo Alto, Los Altos Hills, Menlo Park and Portola Valley. The Christie’s numbers are in red and our numbers are in blue.

What Does a Luxury Home Cost Around the World Compared to Peninsula Cities?

By now we’re all used to the sky-high price of real estate on the Peninsula. We get it—it’s a great place to live! The weather is temperate, the economy is booming, schools are excellent, people are smart and we’re within driving distance of both beach and mountains. It’s no wonder so many people want to live here, and are willing to pay the price.

But how do Peninsula prices compare to some of the other fabulous places to live in the world? Christie’s International Real Estate recently published some sold numbers for price per square foot for luxury homes in several global economic hubs. We thought it would be interesting to compare how expensive it is to own a home in Portola Valley vs. Paris. We defined luxury as less than five years old, $10M and above in Woodside and Atherton, and $5M and above in Palo Alto, Los Altos Hills, Menlo Park and Portola Valley. The Christie’s numbers are in red and our numbers are in blue.

Global Price of Luxury

 

Surprising! Although they are well below the prices in Monaco and Hong Kong, Peninsula properties sell well above other major global cities like Paris and Sydney.

And, just for fun, here’s a peak at samples of luxury properties from around the world. Peninsula properties were all sold in 2016. Other properties are for sale now. All prices are per square feet of living space, rounded to the nearest million and are in US dollars unless otherwise noted.

Monaco: $4,500 per sf

$47M Penthouse with Panoramic Views

Hong Kong: $3,000 per sf

$24M Opulent, Designer Townhouse

London: $1,930 per sf

About $27M US Estate in Posh Westminster with views of St. James Park

Woodside: $1,906 per sf

$22M Elegant, Understated Architectural Gem

New York: $1,860 per sf

$38M Penthouse Close to Central Park with Extraordinary Views

Palo Alto: $1,706 per sf

$6M Brand New Home in the Heart of Prestigious Old Palo Alto

Atherton: $1,450 per sf

$22M Contemporary Estate with a Country Ambiance

Los Altos Hills: $1,239 per sf

Brand New Contemporary Home on 2+ Acres

Menlo Park: $1,246 per sf

$6M New Construction by Renowned Builders

Portola Valley: $1,197 per sf

$13M Green Home with Exceptional Views

Paris: $960 per sf

$4M Five-bedroom Apartment with a Private Garden

Sydney: $680 per sf

$2.5M Spectacular Harbor and Bay Views

Happy Dreaming!

 


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