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Overseas Property Prices

PPG_Blog_February_Image 8_Foreign property pricesWith so much attention focused on the local property market at the moment, let’s take a glimpse at some international house prices. According to the Global Property Guide, the top of the real estate price list is dominated by the world’s heavy weights. These include London, New York, Paris and Rome, ranging in price from $9810 (Rome) to $20,654 per square metre (London).

Rumor has it that last week an apartment in Manhattan was sold to a young Russian woman for a record $88 million. Imagine the mortgage repayments on that kind of bank loan!

At the very pinnacle of global property prices, however, is the glitzy Mediterranean city of Monte Carlo, Monaco. $53,612 per square metre is needed to secure a home among the royalty there. Even with our favourable exchange rate it sounds like a lot of money!

At the other end of the price scale, property in the largest city in Tanzania, Dar es Salaam, will set you back $700 per square metre, while Kenya’s capital Nairobi demands $900 per metre.

Elsewhere, homebuyers could purchase a plot in the Egyptian capital for just over $1000 per metre, own a property on the Dalmatian Coast in Croatia for less than $3000 per metre or pitch across the ditch in Auckland for around $4600 per metre, according to the Guide.

Australia ranks among the world’s top 20 richest real estate spots. Of almost 100 major cities worldwide Sydney ranks 13th most expensive city to buy an apartment.

That cost is around $8838 per square metre. Our other capital cities were not mentioned.

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