New York City (real estate) versus the world

Luxury Big Apple real estate still a bargain, but gap is narrowing as some other city markets soften

Tiny Monaco, which is occupied almost entirely by Monte Carlo, is home to the most expensive residential real estate in the world.
Tiny Monaco, which is occupied almost entirely by Monte Carlo, is home to the most expensive residential real estate in the world.

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From the September issue: Can “a real New York bargain” carry a multi-million dollar price tag? The answer is an emphatic “yes” if the product in question is real estate — and if you’re comparing it to property in other parts of the world. [more]