Of all the US states, Hawaii (pictured) is home to the most expensive residential properties, according to a report by consultancy Coldwell Banker.
The study revealed that the average price for a four-bedroom two-bathroom home in Hawaii stands at US$742,000 (S$906,540), beating Massachusetts which came in second place at US$489,063 (S$597,514), followed by California’s average listing price of US$431,625 (S$527,339).
Budge Huskey, President and COO of Coldwell Banker, said high prices in Hawaii are driven by the limited supply of property in the state.
“While there’s only one particular market in Hawaii that reached the top ten, Hawaii proved the most expensive on an aggregate measure.”
The other expensive markets in the US are concentrated around the technology sector. “In an area like Los Altos (in California), for example, you’re looking at a location that is 15 minutes away from the headquarters of such corporate giants as Google and Facebook,” Huskey said.
The report was based on listing prices on Coldwell Banker’s website from January to June this year.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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