If you have money to spend, investing in real estate can be a good idea. Whether you want to buy another home in a luxury community or buy a new condo, you can never go wrong when buying a property, especially if you have done your research.
Here at Cincinnati Real Estate Agencywe regularly help people from all walks of life. We understand that buying a new home or property is a significant investment and that it is, therefore, essential to be informed. And that's why, today, we decided to share a list of notable events and places in the real estate world.
1. Monaco Is the Most Expensive Place to Purchase Any Real Estate.
Monaco because of its natural beauty, its lenient taxation and of course the Grand Prix has always managed to be at the top of the list of the most expensive places to buy a property. Purchasing a 72 sq ft property at a staggering cost of US$1 million is not unheard of, and there are places where the price can reach US$5 million for only 200 sq. Ft.
Next on the list is Japan, where an average house in Tokyo city with 1500 sq. Ft. can cost between US$600,000 and US$850,000. New York - the city that never sleeps, cannot stay off this list either. An average apartment in the heart of NYC can cost you about US$3 million for about 2000 to 2200 square feet of property .
2. On November 2017, World Witnessed the Most Expensive Real Estate Deal.
The most expensive real estate deal happened when Lee caching (Hong Kong tycoon and chairperson of S.K. assets holding) sold Center Tower (which was the fifth tallest building in Hong Kong) to a group of investors from China known as CHMT Peaceful Development Asia Property at a record-breaking US$5.15 billion.
The central tower boasts 1,200,000 ft.² of space and is made entirely of steel. Furthermore, this building is capable of housing office space, a parking lot, retail space and the fun fact is that the main lobby of this building was used in a blockbuster Hollywood movie - The Dark Knight.
3. Antalya - The Billion-Dollar Residence for A Billionaire.
Mukesh Ambani, who is Asia's richest person, is the chairman and most significant stakeholder of reliance industries, built residential property in south Mumbai, India in 2010 four US$1 billion. This residential property is famously known as Antalya, and it boasts 400,000 ft.² and requires 600 staff members to keep everything running smoothly.
Not only does it have a parking lot that is capable of holding 160 cars, but it also has three helipads. Furthermore, it has a theatre, swimming pool and every bell and whistles you can expect in a billionaire's home.
4. Blockchain Applications Are Disrupting the Real Estate Industry.
Blockchain technology - the ability to share databases and essential information are set to disrupt the real estate industry with real-time updates on listings and smoother communication with clients, agents, and banks. This could speed up the buying process for all involved.
5. Global Wealth Is on The Rise, But Real Estate Investment Is Declining.
But that doesn't mean the wealthy are not buying properties to live in and play in. While real estate as an investment seems to be slowing down in the market, the wealthy all over the world are still looking to buy a second, third, or fourth home.
Why is real estate declining as an investment? Smart investors know what goes up must come down, and even the wealthiest are not keen on investing in overpriced properties, especially when as an investment if they're not guaranteed a reliable moneymaker.
6. Brookfield Management in Canada Is the Biggest Real Estate Company in The World.
Brookfield management in Canada is the wealthiest property management company in the world, with assets of 195 billion dollars. They are hands down one of the most influential companies across the globe. Besides owning much of the skyline in Toronto, Sydney, London, and L.A.; Brookfield is a copious landlord in Berlin, Brazil, and the Bahamas. But besides its land-owning capability, Brookfield is probably the largest provider of infrastructure in the world. It owns 18 hydroelectric plants and is the largest independent owner of cell towers. It owns electric power lines in Ireland, wind farms in Chile and manages 3600 toll roads in India and South America.
7. The Most Expensive Land Is in The Suez Canal.
This artificial sea-level waterway in Egypt, which links the Mediterranean Sea to the Red Sea, generates about $6 billion annually through tolls. Huge cargo ships cost a lot of money to get from one port to another. So, taking this shortcut saves them time and money. Despite thousands of dollars in tolls, river traffic on the Suez Canal generates thousands of dollars every day, making it one of the most valuable waterways in the world.
8. 40% Of People Buying Homes for The First Time Are Millennials Despite Being Called A Lot of Things Including Lazy.
Millennials are digging into their wallets to purchase real estate, and many of them are first time homebuyers. Making up 40% of the market is a pretty big deal, and 65% of them are under the age of 34.
9. Lives in The Tiny Home Fad Is Over.
Remember when everyone was running out to look at refurbished storage containers to turn into sleek minimalist tiny homes. Yeah, that's over. Get prepared for sticker shock because the cost of building your tiny house on average is around 58,000 dollars. That doesn't sound like much right, but you still have to buy the land to put it on.
10. The Most Expensive Golf Course in The World Took 250 Million Dollars to Build.
To get to Liberty National just outside of Manhattan members have the option of taking a private boat to the 7353-yard-long course or take a helicopter which will land on the helipad where you'll be greeted by a golf cart to take you to your first tee.
The joining fee is rumored to be around $357,000. Amenities have added yacht services, spas, and restaurants. Furthermore, construction is set to begin on 900 adjacent homes which will cost from 1.5 to 5 million dollars each.
11. McDonald’s Is Actually A Real Estate Company.
Since McDonald's is a chain with restaurants all over the world, you would think they get their profits from the food industry. While their take from the franchisees' food sales is around 9 billion dollars, they actually own $40 billion worth of a real estate.
McDonald's has been struggling lately, and it would make good economic sense if they started on trying to spin profits off of that 40 billion dollars rather than hoping the trend of healthy eating goes away.