HOME to the super-rich, Monte Carlo is the most expensive property market in the world, according to an annual report by Global Property Guide, a research firm. An apartment of 120 square metres cost an average of $47,600 for each square metre in 2008, over double the rate in Moscow, the next most expensive city. Prime property in the Russian capital fetched a shade more than in London, where prices fell for most of the year. Cairo is not only the cheapest for buyers, but it may even be a good prospect for buy-to-let investors. Property in Cairo and Jakarta saw gross rental yields of over 11% last year, bettered only by the 14.2% returns in Chisinau, Moldova. By contrast most European cities offered feeble returns of under 5%.

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