Nothing excites cities and real estate investors more like skyscrapers and high rises. Cities have shelled out a lot of money to create magnificent, tall buildings to create cultural spaces, offices, and residential complexes. Developers, investors, and urban planners invest a lot of money into these assets because they are multipurpose buildings that make cities look super attractive. So where are the most valuable ones? There’s plenty, but today we will explore just 5 cities that have some of the most expensive skyscrapers in the world.
- Value: $1,700 per square foot
Although Boston is lacking in the creative public space department, it definitely boast a ton of costly buildings. Recently, there is a proposal for a 775 feet-tall skyscraper by the Common that will cost a whopping $1 billion to build. The city also has other skyscraper projects worth billions of dollars under its wing.
- Value: $1,600 per square foot
With the addition and renovation of Taipei 101, Taipei earned the title of a city with a ton of expensive skyscrapers. Taipei 101 is a large shopping center and sits at 101 stories (hence the name). The first Apple store in Taiwan opened in the shopping center this year, which adds even more value. The skyscraper cost nearly $2 billion to build and renovate. The skyscraper used to be the Taipei World Financial Center. Analysts believe that the rental price and value of the tall will continue to increase in this city.
- Value: $1,900 per square foot
Singapore is known for being a vibrant city with beautiful architecture, so it is no surprise that it’s on the list. Its real estate and housing markets are also getting better. One of its famous skyscrapers and hotels, Marina Bay Sand, sits at 656 feet and cost $5.7 billion to build.
- Value: $2,450 per square foot
Home to The Shard and The Gherkin, London made it on this list. The Shard sits at over 1,000 feet tall and cost $1.5 billion to build, while The Gherkin boasts 591 feet and was on sale for about $778 million a few years ago. This city has several other expensive skyscrapers, such as One Canada Square and The Leadenhall Building (the “Cheesegrater”).
- Value: $3,700 per square foot
World Trader Center. Empire State Building. The Trump Building. With its famous and prominent skyline, New York City being on this list should come as no surprise. The Big Apple has skyscrapers worth billions of dollars, and many sit at over 1,000 feet tall. There are currently several that are under construction, so it is expected that the value will be even higher!