New York property is among the most expensive in the world, a new poll has revealed.

According to a study by the Global Property Guide, New York property is the sixth priciest in the world, ranked only behind Hong Kong, Tokyo, London, Moscow and Monte Carlo.

The company stated that New York was the only US city to be included in the research, with prices in the metropolis averaging $15,000 (£10,377) per sq m.

Furthermore, rental yields in New York were found to be higher than those in London, Paris, Singapore, Hong Kong and Madrid.

These latest figures follow a recent house price survey from real estate firm Zillow.

It said the New York metro area of the city saw the lowest rate of foreclosures out of the 161 metropolitan regions covered by the index.

And while property in Manhattan dipped in value by 5.8 per cent during the final quarter of 2008, prices rose for the first nine months of the year.

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