Price per square foot can be an interesting approach to pricing real estate and we though it would be interesting to compare luxury condominium prices around the world to other types of space for sale. How much space in a luxury condominium would you get for £100,000? These prices are based on Knight Franks annual wealth report 2007 and may have changed slightly since then. These are the top ten contenders.
London currently tops the list. £100,000 buys you 43.5 square feet. Coincidentally, this is exactly the same footprint as the Ford Escape, an American SUV. So you can rest assured you will be able to park the car at this price.
Second on the list is Monaco. In the principality, £100,000 will buy you 45.5 square feet or as much floor space as a Midnight oile dome tent, which at a mere $25 and available in a pretty blue is slightly less expensive.
3. New York
New York is a little better value for money and £100,000 will get you 66.3 square feet – coincidentally the exact same size as the grate on a boiler of the steam ship, monster steel freighter James J McWilliams, launched at Wheeler’s yard, Michigan and reported on by the Port Huron Daily times on April 23rd 1895. (We could find nothing else matching these exact measurements.) For those ship buffs reading, the John J McWilliams was later renamed the Central West and was stranded and destroyed by waves on Lake Michigan in 1928.
4. Hong Kong
Further down the price list, £100,000 in Hong Kong buys you 83.3 square feet or the same space as a ‘Four Winds Fun Mover,’ RV. We can just imagine how much fun it would be driving this through Hong Kong during the rush hour.
Tokyo offers a little more space 90.9 square feet or the average amount of kitchen countertop in an American home.
6. Cannes and St Tropez
Cannes and St Tropez share the number six spot offering a spacious 101 square feet at this price equivalent to the size of an inside stateroom on the QE2.
7. Sydney, Paris, Rome, Moscow
Sydney, Paris, Rome and Moscow share the next slot, giving you 117 square feet the same size as the terrace in a Buckingham Towers Condo in Bergen County, New Jersey. Not sure that’s the correct Buckingham palace in the photo.
The other end of the scale
As a comparison, you can buy a four bedroom, four bathroom luxury apartment behind the Agha Khan hospital in Karachi, Pakistan and still have enough change left for a decent car. Hunter & Hunter have the details.
Have a Very Merry Christmas and a Prosperous New Year from all of us at Overseas Property Mall.