Most real estate agents I know tell the same quote on different occasions – that the grandest investment on Earth is earth. True enough. There are at least eight reasons why real estate investment is a must if you can afford one. If you can’t at the moment, work hard for it.
These agents would also often say, that if you don’t like your neighborhood, then move somewhere else. If thoughts of buying a property haven’t crossed your mind yet, because you don’t like where you live, think again. If you can’t settle within the same community, there are still 195 countries where you can migrate.
Let me give you a heads up, though; there are some places where real estate properties are extremely costly. In fact, in the following cities, $1 million dollars can only give you a small piece of land. Here are the three most expensive metros for real estate.
The government of Monaco doesn’t impose any income taxes on its residents, except for French nationals who are still required to pay personal taxes directly to their home country. While there may be higher VAT on other expenditures, this policy allows its people to save up on things they want and need to buy for themselves. A significant downside, however, is the reality that properties within the country come with an outrageous price.
Imagine, for a million US dollars, anyone including foreigners may purchase a 15 sqm of land. This area is just enough for a standard room or a one-car garage. Unless you can create a mansion out of this small space, one million may not suffice.
Another city with minimal taxes and lenient foreign ownership policies is Hong Kong. This autonomous region also owns some of the most expensive lands on the planet. Its economy has also allowed its affluent population and global corporate heads to accumulate multiple real estate properties for residential and commercial use.
If you decide to invest $1M in this city, brace yourself to get approximately 20 sqm, about the same size as a Superior Room in a 5-star hotel in Istanbul.
Home to the British Parliament, London is one of the planet’s most sought-after cities for living. There are many witty articles online to read on why you should live in this metro, which includes the citizens’ ability to go to Paris by train when boredom kicks. Most of the residents would say that they compared to other places they go on a holiday, expenses in London are still higher, but so are their incomes. Thus, the demand for property in this city is skyrocketing. London, after all, is another haven for the wealthy real estate investors.
With a million dollar budget, you should be able to get at least 25sqm of land property. That’s more decent than the above cities.
That sums up the list of the most expensive lands for sale on Earth. If you can’t afford these places, that’s okay. But owe it to yourself to make a good real estate investment while you can.