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.