The Cost of Housing per Square Meter Across Asia

Housing prices vary dramatically across Asia, reflecting differences in land availability, population density, economic development, and demand for property. Based on the latest figures from the Global Property Guide, the cost of one square meter of residential property ranges from more than US$22,000 in Hong Kong to about US$2,100 in Jakarta.

At the top of the ranking is Hong Kong, where one square meter costs approximately US$22,291. Its extremely high prices are closely associated with limited land, high population density, and strong demand for property. Singapore follows at US$18,952 per square meter, making it another exceptionally expensive Asian housing market.

Seoul ranks third at US$10,740, while Macau and Taipei follow at US$8,421 and US$8,260, respectively. These markets combine dense urban environments with strong demand for centrally located housing. Tokyo, at US$5,377 per square meter, is considerably cheaper than several other major Asian cities despite being one of the world's largest metropolitan areas.

In Southeast Asia, Bangkok costs approximately US$4,833 per square meter, followed by Kuala Lumpur at US$2,628 and Jakarta at US$2,113. Meanwhile, Manila stands at US$3,359, while Phnom Penh and Hanoi cost US$2,815 and US$2,340, respectively.

These figures show that Southeast Asian capitals generally remain more affordable than Hong Kong and Singapore, although prices can differ substantially depending on location and property type.

In South Asia, Mumbai records a price of approximately US$3,366 per square meter. Its position above Jakarta, Hanoi, and Kuala Lumpur highlights the substantial cost of housing in one of India's most important financial centers.

Overall, the figures reveal a striking divide across Asia. The US$22,291 price in Hong Kong is more than ten times the US$2,113 recorded in Jakarta. However, these figures should be interpreted as market averages rather than universal prices.

The Global Property Guide notes that its Asian dataset is updated quarterly and can include different property categories across markets; some figures, marked as new-build or luxury property averages, are therefore not directly comparable with every other city.

The ranking nevertheless provides a useful snapshot of how expensive residential space can be across Asia's major urban centers.