The Principality of Monaco is the second smallest and most densely populated country in the world — and where billionaires, millionaires and famous people rub shoulders while enjoying the sun.

But the country is also the most expensive place to live, according to data from Knight Frank Wealth Report that was compiled by Statista. Owning property there costs $1 million for just a measly 17 square meters, or 183 square feet — which is about the size of a living room in a modest suburban home outside of Chicago.

Second in the list of cities with the highest luxury prices is Hong Kong, where $1 million buys 20 square meters, or 215 square feet. These pricey places are followed by London, New York and Singapore.