The biggest cities in the world have their own mix of luxury high-rises.
In Japan, for example, the capital Tokyo is home to a massive $4.2 billion high-rise project called Tokyo Tower.
In Europe, Berlin, Paris and Stockholm are the epicentres of luxury developments, with their respective cities offering high-priced apartments with some of the highest rents in the developed world.
The United States, however, is home base to only a handful of large luxury apartment developments, and many of them are located in cities that are struggling to keep up with the rapid development of the real estate market.
The city of New York is a prime example of a city that has seen its rents skyrocket and its property values plummet over the last decade.
But despite the recent decline, the city’s skyline remains one of the most expensive in the country.
New York City’s skyline Source: Flickr/Maggie Hallett, CC BY 2.0