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September 9, 2008
Most/Least Expensive Real Estate in the World
Some more tidbits from the new Coldwell Banker release:
- Dubai is the most expensive market studied outside of North America, where an HPCI subject home averages $2.45 million U.S. dollars, 33 percent higher than La Jolla.
- Quito, Ecuador, ($96,000) is the most affordable foreign market included in the survey. Nine markets altogether average less than $200,000 including Guayaquil and Samborondo, Ecuador.
- Vancouver, British Columbia, tops the Canadian list, with comparable four-bedroom homes averaging $1,257,000 U.S. dollars. The most affordable studied market in Canada is Charlottetown, Prince Edward Island ($157,000). The price difference between Vancouver and Charlottetown is a stunning $1,100,000.
Okay, now there's a better arb trade: Quito to Dubai. If nothing else, it's a great Scrabble set. Runner up: Charlottetown to Vancouver.
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