By Vipin Agnihotri
The India street is back again with valuable information for their readers. This time around we will take a look at world’s most overpriced real estate markets.
Monaco
Monaco is all about luxury. Monaco is quite popular for its "tax haven" status. In my opinion, Monaco's real estate market has nowhere to grow but up--or up. Monaco's present plan to expand into the sea by building an artificial peninsula should take off some price pressures.
Rome
The real estate market of Rome is experiencing a slowing rate of return. In my opinion, prices are appreciating in the Roman city center, but the cost of each dollar of appreciation is quite costly in nature. In addition, 14.6% transaction fee premium on buying property doesn't help either.
Paris
Similar to lots of European cities the capital costs associated with buying a home in Paris are boosted by high transaction tax on buyers (11.5%) and sellers (4.8%).
Madrid
According to experts, rental yields as a percentage of cost in Madrid have been minimized by half over the last seven years. This is a pure case of price bubble developing.
Los Angeles
According to many, Los Angeles is the least affordable housing market in America. Despite higher costs in San Francisco and Manhattan, L.A.'s overheated market was built up mainly due to speculators who subsequently exposed it to the credit issues presently dogging the market
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