Hypothetical price of a city (e.g. Munich)
A rough estimation technic consists in (i) getting the half of the Gross Urban Product (GUP), thinking of it as a perpetual yearly net income flow (i.e. a profit flow) attributable to the entire city as such, and (ii) dividing it by the average cost of capital that is immobilized locally, say, $2\%$, minus the GUP's growth rate, say, $1\%$ (both real and assumed constant over an infinite horizon)

In the case of Munich it would be

$\frac{1}{2}\frac{GUP_{2018}}{.02 - .01} = 105\text{E}^{11}€$

$10.5$ trillions euros, actually calculated using the DD Model.

Note that public infrastructures are not excluded from the above valuation since the city is considered as an indivisible whole.