How much it cost to buy real estate in Sydney, Seoul, Singapore,

Housing prices across Asia-Pacific are surging — in some cases, by as much as 37%.

Homebuyers are taking advantage of continued pandemic-induced stimulus, while international investors are looking for a place to put their money.

To get a better picture of where real estate prices are going, CNBC compared the median sale prices of one-, two-, three- and four-bedroom properties across four major Asia-Pacific cities: Singapore, Seoul, Sydney and Taipei.

The findings draw on a combination of data from governments and local property sites.

In the case of Seoul, the capital of South Korea, where properties are measured in the local unit “pyeong,” prices have been converted according to their comparable bedroom number.

By way of comparison, the median nationwide U.S. home price for active listings in July 2021 was $385,000, up 10.3% year-on-year, according to data from realtor.com.

The four cities are each international business hubs in their own right, and Singapore stood out as the most expensive city to own an apartment relative to Seoul, Sydney and Taipei.

Here’s a snapshot of property prices across the four cities, according to CNBC’s assessment.

Singapore — the Asian financial hub known for its towering skyscrapers and high cost of living — emerged as the most expensive place to buy property, according to CNBC’s research of the four major Asia-Pacific cities.

One- to two-bedroom properties in the city-states’ affluent central district cost around $1.03 million, according to median sale price data collated by real estate site PropertyGuru from Jan-July 2021.

Three- to four-bedroom properties came in closer to $2.5 million over the same period.

Prices for homes with one and two bedrooms remained relatively stable in the year to July. However, three-bedroom properties saw a “substantial increase,” with prices rising over 5% annually — particularly in more desirable neighborhoods like Alexandra, Commonwealth, Chinatown and Tanjong Pagar.

The centrality of such locations, combined with greater space for remote work arrangements, have made three-bedders a “more favourable option,” Tee Khoon Tan, the Singapore country manager of PropertyGuru, told CNBC via email.

“Space is no longer a luxury but a necessity,” he said. “As such, home buyers may consider typical one or two-bedders to be too petite. Coupled with the higher per square foot prices of one or two-bedders … three-bedders (became) a more favourable option vis-à-vis the rest.”

The same cannot be said for four-bedroom properties, where prices remained steady over the year — and in some cases, even fell — as sellers sought to attract higher-end buyers.

South Korea’s vibrant capital Seoul ranked close behind Singapore as one of the most costly Asia-Pacific cities to buy property, CNBC’s research showed.

The East…