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$243,762 USD 130 square feet appartment

 
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$243,762 130 appartment was told for today. Whare can this happen? If you guessed London, you are appsolutly correct.
This is bad, very bad, what the hell is going on. This appartment is so small that the bed is situated on top of the closet because there is no other space for it. The room area is 10x10 feet.
 
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Are walls of the room are made of gold or any expensive metal?Which material is used for water closet?
 
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Thats London for you ( ) - for the same price: Jarrow House.

This is still expensive for the area, when you consider the difference in salaries (and industries) between here and the South East.

Ever get the feeling your being had, we just had the technology bubble burst, is everyone that confident that this one will not go the same way? Strangely because of this market we are now paying more tax.
 
Arjun Shastry
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Originally posted by Peter Rooke:
Thats London for you ( ) - for the same price: Jarrow House.


and This is for you (Actually its fully booked)
Price is less(1,22000 Pounds Only) than the one you showed,but its apartment and not an independent house.So you can imagine how real esate market is bubbled.
How is this ,each apartment costing 52,000 pounds ?
 
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Originally posted by Arjun Shastry:
How is this ,each apartment costing 52,000 pounds ?



The apartment complex's in India still have a communist blocks look! May be its the high-density-every-one-lives-in-a-match-box-population that�s causing it, but if that�s all you get for paying nearly 50 lakhs (�55K), its really sad!
 
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Not that bad. I've seen �500.000 apartments for sale in Amsterdam that were not much larger...
 
Gerald Davis
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Originally posted by Arjun Shastry:
Are walls of the room are made of gold or any expensive metal?Which material is used for water closet?



The apartment is no gimmick, no fancy designers, no expensive materials, or something the rich would buy. Its just tiny flat in an expensive area.
 
Gerald Davis
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Originally posted by Peter Rooke:
Thats London for you ( ) - for the same price: Jarrow House.



Dollars not pounds, in pounds its �130,000, I just wanted our American friends to know the cost of housing in London.
 
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What makes the expensive areas so much more desirable? Is it a radically shorter commute to the business district?

In the U.S., neighborhoods that have low crime and schools with fewer problem students are desireable and therefore tend to cost more. Of course, suburbs that cost more tend to have low crime and schools with fewer problem students specifically because the cost is a barrier to most disfunctional families. Even if someone discovered a way to import dirt-cheap high-quality houses from China to install wherever desired, decent housing would still be terribly expensive, simply because of undesirable neighbors who would move into any neighborhood where the land is not expensive relative to the job opportunities.

But I suspect some other dynamic is at work when you have million dollar small apartments.
 
Gerald Davis
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Originally posted by Frank Silbermann:
What makes the expensive areas so much more desirable? Is it a radically shorter commute to the business district?

In the U.S., neighborhoods that have low crime and schools with fewer problem students are desireable and therefore tend to cost more.



The flat was bought in Earls Court, I've been there enough times to know that there isn't anything special about it. It probably has more crime then where I live. It is only expensive because it is closer to central London.
 
Jeroen Wenting
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Originally posted by Frank Silbermann:
What makes the expensive areas so much more desirable? Is it a radically shorter commute to the business district?


But I suspect some other dynamic is at work when you have million dollar small apartments.



commute is part of it, and for some will be the main reason.
But for most people looking to buy or rent in that category it's a matter of social status.
In certain circles you have to live in a certain area to belong to the group. With youth gangs in LA that's rundown areas, with yuppie stocktraders and TV personalities in Amsterdam that's half million Euro apartments in the city center.
 
Arjun Shastry
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Originally posted by Ashok Mash:

The apartment complex's in India still have a communist blocks look! May be its the high-density-every-one-lives-in-a-match-box-population that’s causing it, but if that’s all you get for paying nearly 50 lakhs (�55K), its really sad!


Purchasing real estate is beyond common man.Unless you are DINK(Double Income No Kids),its not possible to purchase.Few days back I went to see
this construction. 14 storey towers.Price is exhorbitant.If I take loan,it will take 15 years to repay. . Few floors are already booked.! Builder has set up call center to help the businessmen and future residents.
[ January 08, 2005: Message edited by: Arjun Shastry ]
 
Peter Rooke
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Dollars not pounds, in pounds its �130,000, I just wanted our American friends to know the cost of housing in London.



Property prices have gone up in other places as well [1]; Ireland - 181%, Australia 110%, USA - 57%. UK is given as 132%. Only two places where they are reported to have fallen Japan (-24%) and Germany (-3%).

[1] - I've taken this information from the Economist.
 
Peter Rooke
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In New Zeland for 4,600,000 NZD:
Motiti Island, New Zealand

4,600,000.00 (New Zealand Dollars) = 1,706,899.23 (United Kingdom Pounds)

So for �1,800,000(GBP), in London (central):
London Penthouse Apartment - George Street, West End


[ January 08, 2005: Message edited by: Peter Rooke ]
 
Gerald Davis
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I live in a penthouse just like this one. It has a top floor panoramic view of the other housing states and the elevator stinks of piss mixed in with metal
 
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Frank Silbermann:

What makes the expensive areas so much more desirable? Is it a radically shorter commute to the business district?

My brother lives in midtown Manhattan. Rents there are high because:

- short commute

- less than 5 minute walk to shopping, great entertainment, nice restaurants, inexpensive fast food

- view of Central Park (angle view, the direct view apartments are considerably more expensive)

He doesn't need a car, so all the money that might have been spent on car payments and maintenance can be spent on rent instead.

The ready availability of food means the apartment doesn't need more than a minimal kitchen and dining facilities; instead of using the kitchen you get takeout, and instead of formal dining you walk downstairs to a restaurant. That cuts down substantially on the apartment square footage needed relative to a place in the suburbs.
[ January 08, 2005: Message edited by: Warren Dew ]
 
Arjun Shastry
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Keeping aside renting an apartment,how much does it cost for purchasing an 2/3 Bedroom apartment in various locations?
1)London
2)Paris
3)Zurich
4)New Jersey
5)New York
6)San Jose
7)Sydney
8)Dallas
9)Denver
10)Helsinki
11)Boston
12)Chicago
13)Miami
14)Amsterdam
Please mention where you live currently and how much does it cost to purchase an 2 Bedroom/2 Bedroom apartment(not a house).As discussed earlier,there are so called prime locations,so prices can be different in and around the city you live.Mention the lowest and highest price with amenities provided by apartment owner.
Thanks

 
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Originally posted by Arjun Shastry:
Keeping aside renting an apartment,how much does it cost for purchasing an 2/3 Bedroom apartment in various locations?

Please mention where you live currently and how much does it cost to purchase an 2 Bedroom/2 Bedroom apartment(not a house).As discussed earlier,there are so called prime locations,so prices can be different in and around the city you live.Mention the lowest and highest price with amenities provided by apartment owner.
Thanks



Ok - not on your list of locations but:


Brisbane, Australia:
Suburban (10 minute train from city centre) 2 bed apartment, kitchen, ensuite in 1 BR, large(ish) living area, air-conditioned, balcony overlooking small shared courtyard & possibily shard pool + 1 car park approx AU$250K (US$185K) [Before you start marvelling at how cheap this is remember a BNE salary is typically only about 50-70% of an US one for the same role! ]
Ciy Central Appartment(within 300m of central station in CBD) same size, possibly with high-rise river views & onsite-gym expect to pay more like AU$400K (US$300K)

Sydney, Australia: (After checking a real-estate agent)
Harbour Views, 2 bed high rise facilities as above price > $800K (US$600K)... but wages may be up to 20% higher than in Brisbane...
[ January 09, 2005: Message edited by: Adrian Wallace ]
 
Arjun Shastry
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It seems even with less population density,prices are high in AU cities .My impression was Australian citites are cheaper atleast in residence!!
Thanks,for sharing the information.
People,also mention average salary in IT(I know its very vague term but lets target people with say >8 years of exp and looking for purchasing an apartment).
Here is my observation about Bangalore:
People with > 8 years of exp. salary 7 Lakhs per year.thats appr.US $16000
2 Bedroom apartment:In central location of city 2 Bedroom,$65K onwards.Facilities are security,quiet location.
2 Bedroom ,outskirts(but will be a part of city)ff city :$33K onwards.
above observation is my last 15 days enquiry.People are welcome to add their observations.



[ January 09, 2005: Message edited by: Arjun Shastry ]
[ January 09, 2005: Message edited by: Arjun Shastry ]
 
Alan Wanwierd
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Originally posted by Arjun Shastry:
It seems even with less population density,prices are high in AU cities .My impression was Australian citites are cheaper atleast in residence!!
Thanks,for sharing the information.
People,also mention average salary in IT(I know its very vague term but lets target people with say >8 years of exp and looking for purchasing an apartment).



8yrs experience in IT and now a J2EE developer with all the expected skills and experience I would expect approx:
Brisbane: AU$50k-$90k (US$37k-$70k)
Sydney: AU$80k-$120k (US$60k-$90k)
 
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Originally posted by Arjun Shastry:

8)Dallas
Please mention where you live currently and how much does it cost to purchase an 2 Bedroom/2 Bedroom apartment(not a house).As discussed earlier,there are so called prime locations,so prices can be different in and around the city you live.Mention the lowest and highest price with amenities provided by apartment owner.
Thanks



People rarely buy apartments in Dallas. But you should be able to get hold of some near downtown for about 100K $. But, the fun part with dallas is, in the suburbs you can afford real big houses for about 250K.

I live in a 3500 sq.feet house I bought 3 years ago for 255K. Cool ha!!!
 
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