Tokyo has second most expensive luxury home market (and other Forbes furphies)
Forbes recently published an article on the world's most expensive cities for luxury real estate citing Savills 'World Cities Review Report' and used some interesting figures for Tokyo, which was ranked second to Hong Kong.
From the Forbes article (the link is provided at the bottom of this page):
[The] average home size in Japan's capital city is an expansive 16,000 sqft, for an average 5,000 pounds per square foot. In other words an opulent mansion-sized home in Tokyo totes a market value of $121.6 million.
Let's start with the average home size of 16,000 sqft, which is approximately 1480 sqm. While I don't doubt that there are several homes in Tokyo of this size or larger owned by billionaires, the average home is closer to 100 sqm (1076 sqft), while luxury residences can range anywhere in size from 200 to 600 sqm (2152 ~ 6456 sqft).Read more