Hi everyone, and welcome to my first blog post on my real estate blog, Island Grocery.
I wanted to tell you a little bit more about myself first. I’m Dustin and I grew up in London, U.K. until I was 12. My parents divorced and I went to live with my Mom in Oregon, whilst my Dad stayed in London. Travelling back and forth between these two very different cities was how I got into real estate, as my dad was constantly moving.
Most expensive and cheapest cities.
In 2016 the most expensive country to rent a 120 sq metre apartment was London. With the cost on average being $11,089. The Average cost per square metre was $34,531 nearly double that of New York, but just under less than half of the most expensive city to buy a house which was Monaco at $60,114 per square metre.
The second most expensive place to rent a property was in New York where the average rent price for a 120 square metre apartment was $7,225.
Other cities in the top ten most expensive cities to buy a property, based on the cost per square metre, include Hong Kong, Moscow, Geneva, Vienna, Paris, Tokyo and Singapore.
On the opposite side some of the world’s cheapest places to live include Lusaka, the capital of Zambia, Mumbai in India and Karachi in Pakistan. Other countries with cheap housing includes Japan and South Korea. For Western countries one of the cheapest countries to live in is Germany, where the price to index ratio is – 15.78.
I hope you’ve found this interesting. What’s the price of property where you live?
See you soon.