RE: The most overpriced apartments in the world

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RE: The most overpriced apartments in the world

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dek (62)in #money • 7 years ago (edited)

Haha :D Reminds of my country (Bulgaria, that's in Eastern Europe). Twenty years ago, an apartment cost 7,000 Euro and now it's close to 80,000 Euro.

So is that $670k for an apartment or a separate house? What's the average price per square meter (or square foot)?

7 years ago in #money by dek (62)

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sift666 (65) 7 years ago

Well they are separate apartments but sharing outside walls with the ones next to them

Most NZ houses are free standing, and until very recently, anything over half a million $ would be considered quite expensive.

Not any more though, under half a million in Wellington is not going to get much.

This one round the corner from us sold for $300 000 and was supposed to be rebuilt as six apartments - it hasn't been though!

$0.50

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dek (62) 7 years ago (edited)

Hah :)

I decided to do some math and compare Bulgarian to New Zealand prices. I saw that the average price per square foot is NZD $190.

In my country, we use square meters. 1 sq.m. = 10.76 sq.ft. The average price for a square meter in my town is 650 Euros, so 60.41 Euro per sq.ft. At the current exchange rate, that's NZD $93.

Seems like it's twice as expensive on your side of the world. Then again, you should consider that the average paycheck in New Zealand, Wellington, is roughly NZD $70-80k, whereas the average paycheck in my city is NZD $4800.

So you are still ten times more likely to be able to afford a property, than anyone living here. That's a bit of a discrepancy :)

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sift666 (65) 7 years ago

Holy cow, there is somewhere 10x more unaffordable than here?

In theory NZ is metric and we use sq m too, but feet sound more impressive so are loved by real estate con artists

You have blown my mind!

$0.48

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dek (62) 7 years ago (edited)

You should go to Cuba. With NZD $400 a month you will be treated like a king. If you marry a Cuban lady, you will also have access to their real estate market, which will most likely boom in the next 20 years.

Haha, the photos are great :)

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