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A Minnesota homeowner was left searching for answers after a neighbor's construction had a devastating effect on a tree on their property that had stood for over a century.

One Redditor explained their story and provided a photo of the 150-year-old oak tree that was damaged by their neighbor's carelessness in the r/treelaw subreddit recently.

The neighbor began construction and excavated for a "massive, side-by-side duplex they're building." While the user was fine with the trimming of a large branch on their tree, they noted that the neighbor "also excavated out approximately 1/3 of its root system."

The destruction of the tree's root system meant that the tree would require an eventual removal, as the user "had an arborist come out and he pointed out that some of the main roots had been severed and it was likely going to start a quick decline over the next year or so."

The user attempted to get the neighbor to remove the tree in full and compensate them with $500 for their loss, but that was ignored, so the user asked for advice on how to move forward.

"You need to consult with a lawyer, and also contact the city," one commenter suggested. " ... You also live in a treble damages state, which means he could be held liable for up to three times the value of the tree. Additionally, it is possible that the excavation was not permitted properly "

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Trees play a crucial role in maintaining the health of our planet and our communities. They help keep Earth cool by absorbing harmful carbon pollution and releasing oxygen, which is essential for all living beings.

Improper removal of trees can have significant negative impacts on both the environment and the trees themselves, and it can also carry legal ramifications. For example, a Vermont resident faced criminal charges this year for illegally cutting down nearly 300 trees that were protected as part of the Green Mountain National Forest. Also, a New Jersey homeowner who cut down 32 trees in a neighbor's yard faced a whopping fine of $1,000 per tree.

Commenters advised the OP that their $500 offer to their neighbor was far below what they have a right to seek for the loss of their tree.

"Take that $500 offer off the table yesterday," one commenter wrote.

"Yeah $500 for a 150-year tree isn't going to cut it," another commenter stated. "You can easily walk away with $15k in damage plus the cost of the tree removal, however that requires a lawyer. Good luck!"

Join our free newsletter for easy tips to save more, waste less, and help yourself while helping the planet.

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Homeowner frustrated after stubborn neighbor's construction destroys 150-year-old tree on their property: 'You need to ... - The Cool Down

People came to Jaycee Park Saturday morning, to tie yellow ribbons around dozens of Australian Pines.The ribbons are to celebrate veterans for the Fourth of July, and to bring awareness to the trees, which residents say the city wants to cut down for development.The yellow ribbon, meaning return to me. We think of our trees kind of like our veterans and our service members and our first responders in that they're deeply rooted in our community, just like the trees, explained Cape Coral resident Anne Berchtold.The city plans to remove trees in the park considered invasive. They also want to add boat docks, food trucks, revamp the parking lot and more.This park is very well used by everyone and we wanted to stay that way, said Cape Coral resident Kathleen Lopez.The last plans were shared on May 22 at the committee of the whole meeting.Weve reached out to the city for comment and any updates on the progress of Jaycee Park.We'll let you know when we hear back.I think the response is very good and people are going to look at the yellow ribbons and wonder what it was all about, said Berchtold.The plan is to take the ribbons down after the Fourth of July, so parks maintenance staff can keep the park clean.

People came to Jaycee Park Saturday morning, to tie yellow ribbons around dozens of Australian Pines.

The ribbons are to celebrate veterans for the Fourth of July, and to bring awareness to the trees, which residents say the city wants to cut down for development.

The yellow ribbon, meaning return to me. We think of our trees kind of like our veterans and our service members and our first responders in that they're deeply rooted in our community, just like the trees, explained Cape Coral resident Anne Berchtold.

The city plans to remove trees in the park considered invasive. They also want to add boat docks, food trucks, revamp the parking lot and more.

This park is very well used by everyone and we wanted to stay that way, said Cape Coral resident Kathleen Lopez.

The last plans were shared on May 22 at the committee of the whole meeting.

Weve reached out to the city for comment and any updates on the progress of Jaycee Park.

We'll let you know when we hear back.

I think the response is very good and people are going to look at the yellow ribbons and wonder what it was all about, said Berchtold.

The plan is to take the ribbons down after the Fourth of July, so parks maintenance staff can keep the park clean.

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Cape Coral community ties ribbons at Jaycee Park to honor veterans, raise awareness of tree removal plans - NBC2 News

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As the scorching Texas summer takes hold, Monster Tree Service of Northwest Houston is stepping up to safeguard the region's trees from drought stress and potential storm damage. As the scorching Texas summer takes hold, Monster Tree Service of Northwest Houston is stepping up to safeguard the region's trees from drought stress and potential storm damage. Recognizing this season's unique challenges, the company offers expert tree care services tailored to strengthen tree resilience and promote long-term health.

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Beat the Drought & Storms: Monster Tree Service of Northwest Houston Offers Expert Summer Tree Care - openPR

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Professional Tree Trimmers is a leading tree service company. In a recent update, the company shared insights on how tree trimming contributes to community safety. West Palm Beach, FL - In a website post, Professional Tree Trimmers shared insights on how tree trimming contributes to community safety.

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Professional Tree Trimmers Shares Insights on How Tree Trimming Contributes to Community Safety - openPR

Higher mortgage rates continue to have a counterintuitive impact on home building in the Twin Cities metro as construction of for-sale, single-family housing increased at a double-digit pace while apartment construction maintained its free-fall.

During June, cities issued homebuilders in the metro 542 permits to build the same number of single-family homes, a 15% increase in the past year, according to a monthly report from Housing First Minnesota, which tracks residential construction throughout most of the 13-county metro.

Apartment construction, however, plummeted. Builders and developers gained enough permits to build only 24 multifamily units, a fraction of last year's total at the same time and the monthly average.

"As homebuyers adapt to current interest rates, more and more buyers are drawn to new construction where many builders are offering incentives," said Art Pratt, a longtime Twin Cities builder and board chair of Housing First Minnesota, in a statement.

Higher mortgages rates are driving these divergent trends. They have kept sellers with much lower rates on the sidelines, constricting the number of houses put on the market and limiting options for buyers who are willing and able to buy at today's higher rates.

Mortgage rates, which are still near the historical average but are more than double the rate two years ago, have increased borrowing costs for developers and forced many developers to hit the pause button on many new apartment projects.

"Builders are adapting to the current housing market as the demand for homeownership has not wavered, even as rates and home prices have made it challenging for many," Pratt said.

In June last year, there were 548 total permits issued for a total of 566 units, according to data the Keystone Report collected. That's the least number of permitted units for any June in several years until this year.

So far this year, 3,841 total housing units gained permits, nearly 1,000 fewer than last year at this time and the fewest in several years. Only about 22% of those units were multifamily apartments and other rentals. During a typical year, about half of all total units are multifamily.

Higher borrowing costs are causing the downturn in rental construction. They come at a time when a near-record number of new apartments are completing, creating what's expected to be a temporary increase in the average vacancy rate in some parts of the metro. In much of the metro, the average vacancy rate is already below 5%, making it a landlord's market in those areas.

Through the past two years, builders have constructed nearly 20,000 new apartments, according to a second-quarter report from Marquette Advisors. Construction has tapered quickly: By the end of 2024, only 7,350 units should finish, with 3,785 following next year.

Already, the Twin Cities is quickly become a much more competitive rental market, according to a report RentCafe released Monday. The national rental search firm showed apartments in the metro become occupied within 53 days, on average, with eight renters competing for every unit.

"The complete drop off of multi-family construction is concerning," said James Vagle, CEO of Housing First Minnesota, in a statement. "Minnesota needs housing of all types."

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Single-family construction is on the rise in the Twin Cities, while apartment construction is in a free-fall. - Star Tribune

Portland, Oregon Deacon Development Group, in collaboration with Deacon Construction, LLC, proudly announces the completion of the Merx market-rate apartment building located in the vibrant Slabtown neighborhood of Northwest Portland. This modern seven-story building spans 57,412 square feet and offers 126 thoughtfully designed studios and one-bedroom apartments.

Each studio apartment at Merx features a full kitchen, a washer, and a dryer, catering to the needs of urban dwellers seeking convenience and comfort. With eight unique layouts, ranging from 297 to 433 square feet, residents can choose a space that best suits their lifestyle.

Merx boasts competitively priced units with high-quality finishes, complemented by thoughtful amenity spaces. The building includes an amenity room/courtyard and an expansive rooftop deck, providing residents with ample opportunities to socialize and unwind. Merxs five-story wood-framed structure sits atop a two-story concrete podium, offering both durability and aesthetic appeal.

The buildings ground floor features a residential lobby, street-facing retail spaces, off-street loading areas, a residential courtyard, and an amenity room. The rooftop deck offers stunning views of the surrounding cityscape, making it a perfect spot for relaxation and entertainment. Construction of Merx began in August 2022, and we are excited to invite the community to the official ribbon-cutting ceremony on July 10th, from 10:30 am 12 pm.

The successful completion of Merx is attributed to the collaborative efforts of the dedicated project team, including owner/developer Deacon Development, architect YBA Architects, civil engineer Humber Design Group, structural engineer KPFF, and general contractor Deacon Construction a sister company of the developer.

About Deacon Development GroupDeacon Development is a Portland-based real estate development firm. We specialize in the selection, acquisition, financing, development, and disposition of retail, medical, office, and multifamily projects in the Pacific Northwest.

About Deacon Construction, LLCDeacon Construction, LLC is a full-service general contractor dedicated to providing clients with a product built in an atmosphere of honesty, respect, and open communication. For more than 40 years, they have specialized in construction of hotels, restaurants, retail centers, mixed-use buildings, multifamily housing, and entertainment facilities, as well as healthcare and office buildings. Through their dedication to surpassing client expectations, ability to manage diverse and difficult projects, financial strength and competitive pricing, Deacon Construction has emerged an industry leader throughout the Western United States.

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Deacon Development Group Announces Grand Opening of 126-Unit Merx Apartment Building in Portlands Slabtown - The Registry Seattle

Three years after Suffolk Downs won city approvals, there was supposed to be a lot more going on by now on the nearly four dozen other buildings that will eventually rise at the 161-acre property. But housing construction at the site is on hold until developer HYM Investment Group can hash out a complicated financing deal that has been pushed out of balance by an out-of-whack economy.

The holdup is a reality plaguing housing developers across Greater Boston over the last two years. Demand in our housing-starved region is sky high. And developers such as HYMs Tom OBrien have all the hard-won permits they need. But for all the attention paid lately to fights over zoning and other local approvals recently, securing permits to build isnt even the hard part right now. Amid high interest rates and materials costs, raising enough money is the real problem.

The whole dynamic of housing finance has shifted, said OBrien. It has become so much harder to make these projects work.

Indeed, every major ingredient of an apartment building from wood to steel to electrical components costs more than it did before Covid. Overall materials costs have jumped 43 percent since the start of 2020. Interest rates for construction loans have more than tripled. The investors who typically fund housing development are demanding higher returns, too. Financing new housing in Massachusetts was a complex undertaking five years ago; now it seems impossible.

Theres no hard-and-fast tally of permitted units that are not under construction across dozens of Greater Boston communities. But officials in suburban towns talk about construction permits sitting on the shelf because developers cant close on financing. In Boston, for example, researchers at the citys planning and development agency last year estimated there were nearly 23,000 units stuck in the pipeline. (For comparison, from 2017 through 2021, a little more than 20,000 units were built in Boston, according to a 2022 report from the Mayors Office of Housing.)

One proxy measure of the backlog comes from the housing developed under the states 40B law, which allows developers to bypass local zoning in towns that have insufficient levels of affordable housing. Officials at the quasi-state agency MassHousing say they know of some 20,000 units on pause right now. Those mixed-income projects typically rely on revenues from market-rate apartments to finance the affordable units, making them particularly vulnerable to economic shifts.

The story is much the same all over the region. Through the first five months of the year, fewer than 5,000 units worth of building permits were issued across Greater Boston. Thats down a bit from the same time in 2023, which itself was the slowest year for new housing production in more than a decade.

In a region like Greater Boston, where homes and apartments are already in extremely short supply, that will have consequences for years to come, with supply continuing to fall even further behind demand.

We need that pressure of new construction to bring down rents, said Adam Guren, an economist at Boston University. So I would find it worrisome if theres going to be a lull in building. Its pretty simple: If theres a construction lag is hitting us in several years and demand remains strong for the Boston area, mechanically, rents have to go up.

OBrien, who spent years working on the permits for Suffolk Downs, blames two key factors: the rise of interest rates and construction costs.

The price of lumber and steel major ingredients in housing construction shot up during the pandemic thanks to international supply chain disruptions. Theyve since stabilized, but have not come back down to pre-pandemic levels.

Interest rates, too, shot up as the Federal Reserve moved to tackle inflation, which has made it more expensive for developers to secure construction loans. Interest rates on construction loans are roughly 5 percentage points higher than in 2022.

For an example, OBrien points to a residential tower HYM built as part of the redevelopment of the Government Center Garage. When HYM broke ground in 2017, it cost the company around $680,000 per unit to build. Today, he said, that figure would be more like $1 million.

Whats more, given what they can earn by simply stashing cash in a bank right now, the investors who normally finance housing development are demanding higher returns. So to draw that investment, developers have to make even more money off of their buildings. This can translate to higher rents, but rents have their limits too.

Imagine you had a building that was before returning 6 percent on an investment, said Guren. With a higher construction cost youre returning maybe 4 percent. That building used to make twice as much income as was necessary to build. Now its not enough.

That is ultimately what OBrien says is preventing more construction at Suffolk Downs. HYM is working on a deal to build a second apartment building on the Revere side of the site, but right now it would cost roughly $400,000 a unit. He figures he needs to get that down to $350,000 to secure a deal with investors. So HYM has been working to simplify the architecture of the building and cut back some amenities to make the costs balance.

The equity is literally like an on-off switch, OBrien said. Either you get to the six and a half percent return on cost, or you dont have a project.

But while its easy to flip the production switch to off, turning it back on takes a lot more time.

From conception to grand opening, it takes about five years for a developer to build an apartment building around here. Even permitted projects will need years before they actually house people. There are still projects underway that launched before interest rates spiked, but a lull is coming once those are finished.

If financing markets (hopefully) ease by mid-2025, we would expect new units to be available in 2030, with the intervening years providing little new production, development firm Cabot Cabot and Forbes put it in a recent white paper.

Andrew Chaban, chief executive of Princeton Properties, a local developer and apartment owner, explains it like this: Nearly every step of the financing process from buying the land, to securing a construction loan, to attracting equity has become more complicated and expensive, driving project costs up. When project costs go up, those expenses get passed on to renters.

Theres nowhere else for those costs to go, if we want the housing to get built, said Chaban.

Some experienced developers are still moving projects along in the suburbs, But even some major suburban developments, including a housing and life sciences complex at the Riverside MBTA stop in Newton that was first proposed in 2018, are stuck.

The nearly 600-unit Riverside project has been paused since late 2022, and the formula for moving it forward just doesnt work anymore, said Howard Cohen, board chair of Beacon Communities, one of the developers.

Part of the problem, said Cohen, is that the market for lab development, which was supposed to be the focus of the first phase of the Riverside project, has cratered.

In recent years, builders have had success bundling labs and housing in one project because the lab space could help subsidize the housing. Now both sides of the deal are hard to finance. Cohen said the developers are talking with investors, but may need to accelerate housing into the first phase, which will require more city permits.

The economic forces that have thrown off Riverside, he warned, could still take several years to correct.

Fundamentally, weve got an equation right now that doesnt work, said Cohen. Over the long run the equation will get straightened out. But we dont know how long thats going to take, and in the meantime we need to keep building.

Cohen and other developers see an urgent need to get things moving again, whether the economy stabilizes soon or not.

Some are backing an idea from MassHousing to create a momentum fund that could be used to plug financing gaps for mixed income housing so they can break ground. The proposal is included in the housing bond bill currently before the Legislature, where the House proposed $250 million and the Senate offered $50 million; the precise amount could be negotiated in the coming weeks.

We need to find a way to keep building, said MassHousing CEO Chrystal Kornegay. And if we dont start now, the day when we have the housing we need coming online moves further and further away.

Andrew Brinker can be reached at andrew.brinker@globe.com. Follow him @andrewnbrinker.

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Housing construction in greater Boston stymied by sky-high costs - The Boston Globe

The Census Bureaus report on construction spending said that the value of multifamily residential construction put in place in May was down 0.02 percent from the revised level of the month before. Spending on single-family residential construction was reported to fall 0.7 percent while spending on improvements was up 0.30 percent.

With this release, the Census Bureau revised the seasonally adjusted data back to January 2017. Therefore, the revisions to the prior months data in this report may be much larger than usual.

The value of total private residential construction put in place in May 2024 was reported to be $918.2 billion on a seasonally adjusted, annualized basis. This figure, which includes spending on both new construction and on improvements, was reported to be down $2.0 billion month-over-month. This is the first significant monthly decline since April 2023. With the Census Bureaus updates to their past data, Aprils figure was revised higher by $28.8 billion. Residential construction spending in May was reported to be up 6.5 percent year-over-year.

The value of new private construction of multifamily residential buildings put in place in May was reported to be $130.8 billion on a seasonally adjusted, annualized basis. This was down $21 million from the revised level for April. However, the April figure was revised lower by $1.15 billion, so the preliminary multifamily construction spending figure reported this month is $1.17 billion, or 0.9 percent, lower than the preliminary figure for April reported last month. The reported value of multifamily housing construction put in place in May 2024 was 4.6 percent lower than the level of May 2023.

The first chart shows the difference between the levels of multifamily construction put in place reported last month and the levels reported this month. It shows that the revisions to the data in this months report point to a lower, and declining, pace of multifamily construction completions than was presented in last months report.

For reference, the Census Bureaus New Residential Construction report said the number of unit completions in May in buildings with 5 or more units fell 7.2 percent from the level of the month before. Completions were 0.2 percent lower than their year-earlier level.

Governments were reported to have put $12.22 billion in residential construction in place in May on a seasonally adjusted annualized basis.

The value of new single-family residential construction put in place in May was $436.6 billion on a seasonally adjusted, annualized basis. This was down $3.02 billion from the revised (+$442 million) level for April and was up 1.38 percent from the level of May 2023.

The value of improvements to residential buildings put in place in May was reported to be $350.8 billion on a seasonally adjusted, annualized basis. This was up $1.04 billion from the revised (+$30.52 billion) level for April and was up $9.62 billion from the year-earlier level. The Census Bureau does not separate out improvements for single-family and multifamily residential buildings.

The following chart shows the value of residential construction put in place each month since January 2012. It also shows the trend line for single-family residential construction based on growth in construction volume during the period from January 2012 to June 2018.

The chart shows that the value of multifamily residential construction put in place reached its most recent high in June of last year and has been generally been trending lower since then.

While last months data indicated that the value of single-family construction put in place was continuing its slow climb, this months data shows this figure falling for the last two months.

The value of improvements put in place was revised sharply higher in the updates to past data in this months report. Whereas the earlier data had indicated that the value of improvements put in place had been falling, the updated data indicates that it has been rising since last November, with a 10 percent gain since then.

The report from the Census Bureau also includes information on spending on other types of construction projects. The full report can be found here.

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Multifamily construction spending trending lower in May - Yield PRO magazine

This Custom home is on 20.5 acres in Burleson County in the middle of the rolling hills with lots of trees and amazing views. The open concept welcomes you the minute you walk in the door, with designer touches throughout, The great room has cedar beams with tongue and grove-rich stained wood ceilings, Bamboo plank flooring, Floor to ceiling stone gas fireplace, Venetian plaster walls, Custom trim, French doors that lead out to the property. Alder wood barn doors throughout, The Kitchen with Knotty Alder Cabinets, Gas cooktop, Brand New oven, and microwave never been used, Walk-in Pantry, Stainless steel appliances, Deep stainless farmhouse sink, chiseled edge Granite counter tops, Under cabinet & floor lighting, Herringbone brick floors in the kitchen and laundry room, Large Laundry room with 1/2 bath lots of storage. Both secondary bedrooms have full on-suite Bathrooms, The Master suite offers French doors with lots of natural light, an Elite Steam Shower unit with tile, a cobblestone floor, a walk-in closet, An Amazing barn 68x40 x20 high w/3 large pull doors, 12x40 lean-to for vehicles/trailers, w/14 ft breezeway, lots Storage, RV Parking secluded & private, RV hookups and cleanouts in 2 locations, A small pond, New Septic Tank, Amazing views with just a peaceful setting. In the country but only 10 minutes from Caldwell. 40 minutes to College Station. 2 entrances to property, Wildlife Exemption, Additional Storage shed, Dog runs, Chicken coop. Open to offers.

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Luxury homes on the market in Bryan-College Station - Bryan-College Station Eagle

Pricey pads in the world's priciest cities

Knight Frank Sydney Residential

Offering job opportunities, cultural and culinary diversity and the chance to experience life in a bustling metropolis, major cities around the world are struggling to cope with the influx of residents. The more desirable a place becomes, the more expensive it is to live there and the higher house prices rise!

Grab your wallet as we take a look at remarkable residences within the world's most expensive cities*...

*All data correct at time of publishing

Engel Ching / Shutterstock

As one of the most exciting cities in the world, London is home to iconic architecture, world-class museums and enviable green spaces. Such draws attract thousands of people every year, which doesn't do much to aid the housing crisis or the cost of living.According to property website, Zoopla, the average sales price for a property inJune 2024 was711,745($901k), while the average detached home goes for a cool1.3 million ($1.6m).

A single person can expect to pay around 1,111($1.4k) for food and bills each month, before thinking about rent or mortgage payments. So, it's no wonder the city was named the eighth-most expensive in the world in Mercer's 2024 study.

United Kingdom Sothebys International Realty

While half a million could get you a one- to two-bedroom flat or a small house in a less desirable area of the city, those with bigger budgets can bag themselves a seriously awe-inspiring residence.

On the market with United Kingdom Sothebys International Realty in June 2024, this exquisite private home was priced at 32 million ($41m). It sits on a generous plot in the highly sought-after Highgate area of north London, close toiconic Hampstead Heath.

United Kingdom Sothebys International Realty

Standing proud at 18,239 square feet (1,694sqm), the modern masterpiece sits on two acres (0.8h) of land, which is very rare in London!

The home's exterior is defined by its all-white, roundedshape and endless windows, while the interior dazzles with high ceilings, gilded accents and plenty of luxurious extras, including a glass elevator and designer light fixtures.

United Kingdom Sothebys International Realty

Room-wise, there's a grand entrance hall, a formal sitting room, a dining room, a breakfast room and a gourmet kitchen. The home's six bedrooms all feature an ensuite bathroom, while the master suite, located on the first floor, is particularly impressive.

There are several terraces, too, including a balcony and a rooftop deck.

United Kingdom Sothebys International Realty

As well as lovely grounds, the property also has a 4,400-square-foot (409sqm)self-contained staff lodge andleisure facilities, which include a swimming pool,spa amenities and a home gym.

There's also abilliards room, a four-car garage and an outdoor tennis court.

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Enchantingly beautiful, the Swiss city of Zrich is a global centre for banking and financebutoffers plenty of attractions for fans of nature and architecture too. It's also known for being incredibly expensiveand not just for tourists. Here, a single person's estimated monthly costs, without rent, are around 1,296 ($1.6k), making Zrich 26.8% more expensive than London.

In fact,Mercer named the city the third-most expensive in the world in 2024. Shockingly, four Swiss cities were named in its 10 top rundown, making the country one of the priciest in the world.

Engel & Vlkers Zrich Oerlikon

A property in the city centre of Zrichcosts, on average,1,763 ($2.2k)per square foot.To put that into perspective, a stunning three-bedroom apartment inside this building was on the marketin June 2024 for CHF 3.4 million. That's 3 million ($3.8m).

Thebrutalist-style buildingwas constructed in the 1980sand is nestled in the leafy quarter ofHngg, momentsfrom the Limmat River.

Engel & Vlkers Zrich Oerlikon

The recently renovated apartment blends space, design and luxury, kitted out with the finest materials and impressive Italian design elements throughout.

Engel & Vlkers Zrich Oerlikon

The property spans 2,131 square feet (198sqm) and benefits from an open-plan living space, with a lounge, dining area and kitchen.

From hardwood parquet floors to high ceilings and extensive windows, the apartment is chic and light-filled.

Engel & Vlkers Zrich Oerlikon

There are three bedrooms and two bathrooms. This suite is huge, with direct access to a balcony.

The luxury living experience is rounded off by a double parking space, located in an underground car park. It has an electric charging station for an electric car, too.

Engel & Vlkers Zrich Oerlikon

The property also boasts a spacious terrace, from which you can enjoy panoramic views of the city. Its big enough for a dining set and a few chairs, too, making it an oasis in the heart of the city.

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Known for its glistening coastline, designer boutiques and countless casinos, Monaco is a sovereign city-state that was designed for the wealthy. A well-known tax haven, this billionaires' playground doesn't charge residents income or capital gains taxes, so those lucky enough to live here can see their money stretchfurther but that doesn't mean living here comes cheap!

According to Numbeo, a single person's estimated monthly costs are around 1,510 ($1.9k),before rent.The price per square footto buy an apartment in the city is 5,207 ($6.6k), which means a 1,000-square-foot (93sqm) apartment could set you back a cool 5.2 million ($6.6m).

Taking a look at an example of the type of home you can buy in and around the city, this gorgeous residence is nestled inRoquebrune-Cap-Martin, on the outskirts of Monaco.

Almost too good to be true, the property was on the market with Savills Beaulieu Sur Merin June 2024, for 5.2 million ($5.6m/4.4m). The villa measures 2,476 square feet (230 sqm) and extends over two stunning floors.

The property was completely renovated in 2023 and it's certainly clear. Every single room is finished to the highest standard, with designer fixtures and high-end finishes.

There's a huge, open-plan living area with a lounge, dining area and kitchen, kitted out with marble. Modern features include electricwindows for hands-free operation, a TV lift system and a cellar with space for over 300 bottles of your favourite vintage.

There are four bedrooms and four bathrooms, too. This is the luxurious master suite and it benefits from a stunning ensuite. A faux frame allows anyone in the bedroom to see through to the bathtub.

Plus, the room opens to a huge outdoor terrace, with dreamy coastal views across Monaco.

There's also a fully-equipped fitness room, an outdoor dining deck, a sitting area that faces the view and, of course, an amazing swimming pool. Take a dip while taking in the enchanting scenery of the French Riviera.

Taras Vyshnya / Shutterstock

With world-renowned food, an iconic Opera House and endless days of sunshine, there are countless reasons why Sydney is so popular. But it's also one of the most expensive cities on the planet when it comes to the cost of living.

According to Numbeo,a single person can expect to pay 908($1.2k) a month for bills and groceries alone and in 2022,DemographiasInternational Housing AffordabilitystudydeclaredSydneys median house price15 times higher than the average household income.

Knight Frank Sydney Residential

Even more worryingly for locals, Sydney home prices are expected to grow by as much as 23% over the next three years, according to2024 data.

To highlight just how quickly the property market is growing in the city, this Barangaroo apartment was on the market in June 2024 for AUD$12.9 million, which is 6.8 million ($8.6m) and it measures just 1,813 square feet (168.5sqm).

Knight Frank Sydney Residential

No doubt worth every penny, the harbour view apartment is situated on the upper levels of the iconic Crown Sydney tower and provides utterly mesmerising city scenery from almost every room.

The building was designed by the architects at Wilkinson-Eyre and no expense was spared. With sumptuous interior design by Meyer Davis, exquisite custom joinery and luxury stonework, the apartment could certainly be described as plush.

Knight Frank Sydney Residential

The pad benefits from a stunning open-plan living space, with a lounge, kitchen, dining room and pantry.

There are three bedrooms and three bathrooms, as well. This incredible ensuite provides dreamy skyline views thanks to a floor-to-ceiling windowpositioned close to the tub.

Knight Frank Sydney Residential

No ordinary apartment, this one comes with a primary walk-through wardrobe, twin steam showers, Wolf & Sub-Zero appliances and an open-air balcony that's accessible from the living room and primary suite.

Plus, residents of the luxury tower benefitfrom a 24-hour concierge and security service, valet parking, an outdoor residents-only swimming pool, an outdoor tennis court, a gym and a day spa. There's even housekeeping, so the residents don't need to lift a finger.

For many years, New York City has been struggling to cope with the amount of people who have flocked there in search of fame and fortune. The last census, in July 2023, found there to be around 8.3million people livingin the city and, according to Zillow, the typical value of homes in the county is 869,800 ($1.1m).

Plus, in 2024 New York City was named the seventh most expensive city to live by Mercer, and in 2023, it shared the third spot with Geneva, Switzerland.

For the city's average property price, you could probably pick up a two-bedroom place in the Bronx, but you need a slightly bigger budget to buy anything luxurious in Manhattan.

111 West 57th Street is a luxurious new developmentin the heart of the city, seconds from Central Park. Apartments inside this building range from 5.5 million ($6.9m) to 38.7 million ($49m)and once you see inside, you'll understand why.

There are 60 homes inside the building and while they differ in size and number of bedrooms, most offer jaw-dropping views across the city, thanks to floor-to-ceiling windows.

They all come with direct elevator entry and ceilings that extend up to 14 feet (4.3m).

The building blends one of New York City's most cherished landmarks, Steinway Hall, with a soaring 1,428-foot (435m) contemporary tower. The world-renowned SHoP Architects are responsible for the exterior design, while Studio Sofield took on the task of designing the interiors.

With accents of limestone, marble, blackened steel and velvet throughout, every single apartment is entirely swoon-worthy, kitted out with the finest finishes and fixtures money can buy.

Of course, the property comes complete with plenty of state-of-the-art amenities, including a two-lane, 82-foot (25m) lap pool and a fully enclosed, regulation-size paddle court. There's also a dedicated concierge service, a private porte-cochere entrance and valet parking.

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For many years, Hong Kong has been one of the most expensive citieson the planetand in 2024, Mercer put it in the top spot. The housing market in this Special Administrative Region of the People's Republic of China hasreached unrealistic heights. The bustling metropolis, loved for its dazzling skyline and fantastic culinary and cultural opportunities, is short on space and homes, which has consistently driven up prices.

Interestingly though, home prices in Hong Kong dropped by a shocking 13.2% in the first quarter of 2024. Numbeo states that the price per square foot to buy an apartment in the city centre is 2,167 ($2.7k), so it still isn't exactly affordable!

Those lucky enough to have a big budget need not opt for a so-called 'coffin apartment' and could instead snap up something like this.

Detached villas and penthouse apartments are exceptionally scarce in Hong Kong and those that do come on the market sell for ridiculous sums of money. Cue this palatial property in Mui Wo.

This luxurious villa, known as Edem Garden, not only has more than one floor, but also comes with a highly sought-after (and hard to find) garden!

Ideal for nine people, the home benefits from four bedrooms and two bathrooms, as well as a living room, a spacious kitchen and a dining area.

The two-storey detached villa was architecturally designed and benefits from magnificent, uninterrupted sea and mountain views. Every room is modern and filled with natural light, with high ceilings, oversized windows and contemporary fixtures.

The garden is of a good size and ideal for alfresco dining. There are also a few exterior balconies, where lucky guests of this Airbnb can while away the hours in style.

While we don't know how much this home cost, we do know that it would be worth a pretty penny!

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Sophisticated, romantic and pricey are all words that might spring to mind when you picture the Alpine city of Geneva, Switzerland. Nestled on the shores of Lac Lman, the waterside city is surrounded by the Jura mountains and boasts dramatic views ofMont Blanc.

Mercer declared the city the fourth most expensive in the world in 2024, whileNumbeo currently ranks the city the most expensivewhen it comes to the cost of living.RealAdvisor suggests the median price for houses here is CHF4.4 million, which is3.9 million ($4.9m).

Savills / Gaia Prost Luxury Places

If you're wealthy in Geneva, then the real estate possibilities are endless. This beautiful home is just one example of the type of residence a millionaire could buy in the Alpine city. Priced at CHF12.9 million or 11.4 million ($14.4m) in June 2024 via Savills, it is both stylish and sophisticated.

The villa lies in the quiet residential neighbourhood of Anires, around a 20-minute car ride from the city centre.

Savills / Gaia Prost Luxury Places

While Geneva is home to plenty of stunning historic homes, this one is relatively new. It was designed by renowned architectCharles Pictetin 2012 and built using a combination of concrete, brick, wood, glass and bronze.

In 2014, the villa was awarded the Distinction Romande d'Architecture prize and it isn't hard to see why.

Savills / Gaia Prost Luxury Places

Spanning 6,243 square feet (580 sqm), the luxurious property benefits from three floors and a traditional layout.

The reception rooms and living spaces sit on the ground floor, while a generous spiral staircase leads upstairs where five bedrooms and seven bathrooms can be found.Some of the rooms enjoy splendid views ofLake Geneva and the Jura mountains, too.

Savills / Gaia Prost Luxury Places

Despite being a modern home, the property has plenty of character, with timber accents, exposed ceiling beams and large windows throughout. Designed with wellbeing and sustainability in mind, the villa is also equipped with a geothermal heat pump and solar panels.

There's also a spacious and pretty garden, complete with a heated swimming pool, a pool house and an orchard of fruit trees.

Travelpixs / Shutterstock

In 2024, Swiss private bank Julius Baer published its annual Global Wealth and Lifestyle Report, naming Singapore the most expensive city in the world. Similarly, Mercer named the city the second-most expensive, after Hong Kong.

For the last 11 years, the Economist Intelligence Unit (EIU) has named its top 10 most expensive cities in the world and, amazingly, Singapore has topped the list not once, but nine times!Thisbuzzing metropolis, with itsmodern skyline, has an estimated 5.7 million residents.

The average apartment in the heart of the city will set you back 1,500 ($1.9k) per square foot, but those with bulging bank accounts can snap up pretty amazing homes, like this modern penthouse in the Tanglin area of the city-state.

The 6,867-square-foot (638sqm) duplex was for sale with OrangeTee & Tie Pte in June 2024 and priced at 22.2 million ($28m).

Link:
Incredible luxury homes in the world's most expensive cities - Yahoo Lifestyle UK