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The financial capital of the world is no longer the capital for luxury real estate. The survey took into account the property in Manhattan, where a large portion of the high-end real estate is located. The third highest priced prime real estate in the world is found in Manhattan, with an average of $2,160 per square foot. In 2008, the city lost -4.1 percent in value over the entire year, with a drop of -3.2 percent in the final quarter.
