2025’s Most Expensive Condo Markets — And Why Chicago Is Rising

Word Count: ~1,210 words. Read Time: ~5 minutes

In the quiet space between the holidays and the new year, it feels right to look beyond the daily headlines and toward something a little more hopeful — how the world is living, investing, and rediscovering cities it loves. Luxury real estate has always been a global language. In 2025, that language is being spoken even louder — and at far higher price points. Visual Capitalist’s global ranking of the world’s most expensive condo markets reveals where international wealth is flowing, where scarcity dominates, and how luxury is being redefined across continents.

But here’s what’s most compelling for us in Chicago:

As global condo prices soar to historic levels, Chicago is emerging as one of the smartest luxury value plays in the world — especially for pied-à-terre and second-home buyers.

Global Titans: Where Condo Prices Have Reached the Stratosphere

The world’s most expensive condo markets in 2025 are driven by scarcity, global capital, and international prestige.

At the very top:

• Hong Kong — over $25,000 per square meter

• Zurich & Lausanne, Switzerland

• Singapore & Seoul

• New York City — the only U.S. market inside the global top tier

These cities share a common thread:
land constraints, international money, world-class infrastructure, and prestige that transcends borders. In these markets, condos are not just homes — they are financial instruments, safe-harbor assets, and lifestyle trophies.

What Drives Ultra-Luxury Condo Pricing Worldwide

Four forces determine these extreme valuations:

1. Scarcity

Dense urban centers with limited land force development upward — and prices with it.

2. International Capital

High-net-worth buyers from every continent deploy capital in jurisdictions with stable legal systems and assets that are mobile.

3. Prestige & Infrastructure

Global dining, arts, finance, education, and luxury services create gravitational pull.

4. Economic Stability & Currency Strength

Markets like Switzerland and Singapore command premiums because political and financial risk is low.

Where Chicago Now Fits Into This Global Picture

Chicago doesn’t compete with Hong Kong on price per square meter — and that is exactly the point.

Instead, Chicago is now emerging as one of North America’s most compelling luxury-value cities, delivering:

• Architectural significance

• World-class dining and culture

• Lakefront lifestyle

• Walkable urban neighborhoods

• Global air access

• Trophy-level high-rise and legacy buildings

All at a fraction of global super-city pricing.

For buyers relocating from New York, Toronto, Europe, or international financial centers, Chicago consistently delivers the same reaction:

“I can’t believe what you get here for the money.”

And in 2025, that value advantage is being amplified by a major shift in how buyers use downtown condos.

The Return of the Second-Home Buyer: Chicago’s Pied-À-Terre Moment Has Arrived

For years, cities like Paris, London, and New York have thrived on pied-à-terre ownership. Buyers didn’t live full-time in the city — they used it as a flexible base for business, culture, and travel.

Chicago is now seeing this same behavior return in a meaningful way.

A recent Chicago Business report confirmed a renewed surge in second-home buyers purchasing downtown condos, with particular momentum at Cirrus in Lakeshore East. After slower pandemic years, sales activity there is being driven by buyers who already own primary homes elsewhere and want a Chicago base for flexibility, access, and lifestyle.

This is not speculative sentiment — it is behavioral proof that:

• Buyers are returning to downtown living

• Lock-and-leave luxury is back in demand

• Chicago is regaining its role as a second city for national and international homeowners

Why Chicago Works So Well for Pied-À-Terre Buyers

Chicago checks every box required for modern second-home ownership:

Direct international flights
Financial, tech, legal, and healthcare hubs
Architectural prestige
Lakefront exposure
Consistent rental demand if needed
Somewhat lower tax burden than many coastal & global markets
Walkable dining, arts, and cultural districts

For buyers who split time between:

• Chicago + New York

• Chicago + Florida

• Chicago + Mexico

• Chicago + Europe

The city now functions as a strategic lifestyle anchor, not just a place of residence.

Global Luxury Buyers Are Now Choosing Value Over Compression

As global markets become increasingly compressed:

• Smaller footprints

• Higher density

• Higher carrying costs

• Increased regulation

Chicago offers something rare in 2025:

Global sophistication without global compression.

Buyers can still secure:

• Expansive lake views

• True three-bedroom layouts

• Meaningful outdoor terraces

• Architectural pedigree

• High-service buildings

Without spending Hong Kong or Manhattan-level capital.

Why This Matters for Our Clients

With decades in Chicago luxury real estate and a global brand platform extending across international markets, we see buyer behavior shifting in real time.

The data is clear:

• Global luxury pricing is accelerating

• Downtown Chicago's second-home demand is reviving

• Pied-à-terre ownership is becoming a core buyer strategy

• Buyers want flexibility, security, and usability — not excess

Chicago now sits at the perfect intersection of global relevance and rational value.

If You’re Considering a Downtown Pied-À-Terre or a Global Second Home — Let’s Talk

Whether your second home is:

• A Chicago high-rise

• A Mexico coastal residence

• Or part of a multi-city living strategy

We help our clients align lifestyle, capital, and global mobility under one trusted advisory relationship.

Chicago. Global. Intentional luxury.

Let’s build the right strategy for your next move.

Cheers,