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The Most Expensive University Cities in the World by Property Price
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Oxford may have knocked the California Institute of Technology off the top spot in the latest world university rankings, but where are the most expensive university cities in the world by property price?
The Most Expensive University Cities in the World by Property Price
Online estate agent eMoov.co.uk has reshuffled the top 100 list to find out which university cities are home to the most expensive property prices. It has taken the average property price per square metre across all 100 universities, finding that buying a home in a city boasting one of the world’s most prestigious universities will set you back around £5,245 per square metre. In the UK, the average price rises to £7,496.
Although it has traditionally fuelled the UK property market, London is not top of the list for property prices.
Hong Kong is home to the most expensive property price in the top 100 university rankings, at an average of £17,646 per square metre. Its top universities include the University of Hong Kong, Hong Kong University of Science and Technology and the Chinese University of Hong Kong.
At £16,331, London is the second most expensive city in the top 100, with Imperial College London, University College London, the London School of Economics and Political Science and King’s College London all making the list.
The University of Tokyo is the eighth most expensive, at £14,221 per square metre, with the National University of Singapore and Nanyang Technological University, also in Singapore, competing the top ten, at £13,664.
Of the other UK universities in the list, Oxford was 39th (£4,410), Cambridge was 45th (£4,061), Bristol was 56th (£3,502), Warwick 62nd (£3,000), Edinburgh 63rd (£2,879), Manchester 71st (£2,467), Durham 75th (£2,300) and Glasgow 78th (£1,995).
The ten cheapest university cities to buy a property included in the top 100 is dominated by the United States of America, with the University of Illinois at Urbana-Champaign coming in at just £783 per square metre.
The founder and CEO of eMoov, Russell Quirk, says: “The latest results are certainly testament to the quality of higher education available in the United Kingdom, with more than 10% of the entrants located here and for that, we should count ourselves very lucky. That said, the escalating cost of fees when attending university has seen it slip out of reach for many, and even the cheapest on the list, Durham, would cost well over £1,000 per square metre to purchase a property in the area.
“One silver lining that this research does highlight, however, is that at least London isn’t the most expensive where the average property price is concerned.”
Landlords, do you invest in student property? Perhaps you can use this list to find your next UK or overseas investment – it’s probably best to avoid Hong Kong!
