# World City Apartment Price Comparison



## wiseben (Oct 30, 2013)

009 said:


> Monaco still tops the list with $53k per m², followed by London, Hong Kong, Singapore, and Geneva


this list is probably right. Monaco is too small for comparison. So London and Hongkong are competing for the top. However, maybe top cities in china like beijing and shanghai are even more expensive if you consider the borrowing cost there is more than 6% vs. 3% in Hk or London. And the price there is still increasing like crazy at the moment, at least 15% a year for the near future


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## Urbanista1 (Sep 13, 2006)

The average price in Toronto for 80-90 sq metres in the central core near desirable areas and transit is about $650,000 for a finished unit with generally a very small to no balconey and 1 parking space. Prices have declined a titch due to oversupply right now. But the big problem in Toronto in terms of affordability is maintenance fees which for 80-90 sq metres will average $850-1000/month within 5 years of buying a unit. That's why so many Torontonians work so hard and don't have kids.

Another city I am familiar with is Krakow. I bought a beautiful 65 sq metre home near the old town, near transit (altough walking around is easy) and great shopping and character areas for $131,000 and then spent about $7,000 adding some finishing touches. The maintenance fees in comparison with Toronto are a drop in the bucket, at $100/month on average from what I've seen.

The biggest issue is quality of life, people will pay for a great city with lots of variety, opportuntiies for advancement and amenities. Cities like Krakow Poland or Wroclaw, or even Portland in US, Lyon France or Quebec City that offer that plus a relatively quiet, peaceful non-hectic pace are the biggest draw now with their much lower cost of living and all the culture you need or would want. A lot of businesses are starting to be drawn to mid-size cities like that with character, amenities, history/charm as long as they have good infrastructure.


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## Jonesy55 (Jul 30, 2004)

Those fees sound horrendous, that's more than the rent itself would be in many cities for an apartment like that.


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## Jonesy55 (Jul 30, 2004)

I just took a look at all apartments currently for sale within 3 miles /5km of the centre of the UK's second city Birmingham (1.1m in the city, c3m in the metro area). Of the 1,150 apartments advertised the cheapest is on sale at £25,000 ($40,000) while the most expensive is priced at £649,000 ($1.04m).

The median price looks to be around £125,000 ($200,000)


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## Jonesy55 (Jul 30, 2004)

Repeating the exercise for Manchester (400k in city boundaries, c3m in metro area) we find 1,900 apartments currently for sale within 3 miles/5km of the centre point of the city. Cheapest is £26,000 ($42,000), most expensive is £2m ($3.2m), median price around £127,500 ($204,000).

The listings I looked at btw are from the Rightmove website which features >90% of all properties on sale in the UK so I would think it's fairly accurate as a guide.


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## Xusein (Sep 27, 2005)

Jonesy55 said:


> I just took a look at all apartments currently for sale within 3 miles /5km of the centre of the UK's second city Birmingham (1.1m in the city, c3m in the metro area). Of the 1,150 apartments advertised* the cheapest is on sale at £25,000 ($40,000)* while the most expensive is priced at £649,000 ($1.04m).
> 
> The median price looks to be around £125,000 ($200,000)


What kind of apartment can you get for that? A closet?


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## Jonesy55 (Jul 30, 2004)

Here's the listing.

http://www.rightmove.co.uk/property-for-sale/property-39817777.html?premiumA=true

It doesn't have any interior pics which makes me suspicious, maybe somebody died there and wasn't found for years, you hear those stories sometimes.

It's by far the cheapest in that 3 mile radius from the centre, but there are a few others under £50,000.

http://www.rightmove.co.uk/property...ryDisplayPropertyType=&newHome=&auction=false

They tend to say

"Would benefit from modernisation" = It's a shitheap.

Or

"Would suit investors" = You wouldn't want to live there yourself.


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## Xusein (Sep 27, 2005)

No floorplans either. But it's still pretty cheap. I guess these are exceptional though.


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## Jonesy55 (Jul 30, 2004)

Yeah, they are the cheapest of the cheap, only around 10 of the 1,150 apartments I found listed are on sale for £50,000 or less and I think there must be something wrong with most of them, you would need to spend money to bring them up to decent standard.

But if you go up to £90,000-£100,000 there are a lot of them, mostly studios or 1 bedroom apartments but some decent looking places for a single person or young couple.


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## Faisal Shourov (Jan 6, 2013)

280 sq. meter flats in Baridhara area of Dhaka city cost $1.93 million on average. I don't know how it compares to western cities.


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## narkelion (Sep 28, 2012)

280sqmt in central Rome (area 1) won't cost less than 2.5 million euro. 

It raises up to 3/3.5 million if it's located close to a really famous place or with a very good sight from the windows.

I've personally seen a house in Piazza di Spagna: 200sq meters, with astonishing views from the windows (Spanish steps on one side and St. Peter Basilica on the other). Sold at 4 million euro. 20'000€/sq. mt.


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## Magistraler (Aug 12, 2011)

Jonesy55 said:


> I just took a look at all apartments currently for sale within 3 miles /5km of the centre of the UK's second city Birmingham (1.1m in the city, c3m in the metro area). Of the 1,150 apartments advertised the cheapest is on sale at £25,000 ($40,000) while the most expensive is priced at £649,000 ($1.04m).
> 
> The median price looks to be around £125,000 ($200,000)


Maybe you could give us a quote (per square meter) for an apartment in a *desirable *(but not too established) central *neighbourhood* of Birmingham.
That would be helpful in order to compare with other cities around the world.


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## Jonesy55 (Jul 30, 2004)

^^ It's a bit difficult as most apartment listings don't give the m2, but something like this would be typical for a desirable place at the edge of the city centre I think.

£199,950, c90m2 = £2,220 / €2,640 / $3,550 per m2

http://www.rightmove.co.uk/property-for-sale/property-25745598.html


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## Hebrewtext (Aug 18, 2004)

Tel Aviv

even 30,000 USD/m2. 50 million $ for an apartment.

8000 USD/m2 on average .


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## Magistraler (Aug 12, 2011)

Stockholm 2015: 7.200 e/m2


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## castermaild55 (Sep 8, 2005)

eng subb


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## Jonesy55 (Jul 30, 2004)

you can now get house price data from the ONS for England and Wales down to MSOA level which is small local areas of 5,000-10,000 people and the series goes back as far as 1995.

As an example here are the average prices over time for different types of home in my neighbourhood.



As far as apartments go the median price at the moment looks to be around £125,000 ($177,500/€157,500)


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## Magistraler (Aug 12, 2011)

We should compare price per m2 (per housing type)


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## ssiguy2 (Feb 19, 2005)

The average price of a house in greater Vancouver now sits at $1.8 million and rising at about 27% per year. Vancouver prices are almost exactly 50% higher than Toronto and a truly incredible 5X the price of Montreal despite Montreal being 55% larger in population. 

The highest prices in NA despite being one of it's poorest cities.........it's called Chinese money laundering in the real estate market.


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## Taller Better (Aug 27, 2005)

Don't forget to say what comes included with your rent. Most North American rentals come with no charge for electricity or water. European and UK rentals normally require you pay for those separately.


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