Thread: American Realestate Cheapest in the World

American real estate is the cheapest in the world, according a new infographic from Credit Sesame. The diagram, which aims to put US property into global perspective, shows that America is significantly cheaper than other countries in terms of price per square foot, explaining why interest from overseas investors remains high.

The US property market continues to be uncertain, as sales of new homes fell in August to a six-month low, but on a wider scale, the number of repossessed and discounted houses makes America a far more affordable place to invest than other countries. Even real estate in Manhattan, the most expensive US city at $1,068 per square foot, is three times cheaper than Paris, where property is priced at $3,287 per square foot.

Indeed, the French capital is the most expensive in the world, while London ranks between Paris and New York at $1,590 per square foot, just above the real estate value in Dubai. Out of the 34 cities analysed (using data between 2011 and 2009), the median market is, perhaps surprisingly, Athens, where Greek property has a cost of $890 per square foot. At the other end of the international scale, Chile boasts property at the lowest global cost of $160 per square foot in Santiago – still over triple that of Houston’s mere $54.

Credit Sesame founder Adrian Nazari, speaking to The Wall Street Journal, summed up the enduring appeal of property in America for foreign investors: “After all, a homeowner in Dubai could sell and have basically enough to buy homes in Houston, Atlanta and Phoenix.”

I bet Aldo has his calculator out as we type.............................................. ..

So with the Aussie$ around the same value as the US$ what sort of a price could you buy a 4x2 for in a 'decent' area?

Ive heard Las Vegas is cheap, if your into slot machines,

http://www.beaumontidx.com/agent_spe...page_current=1

I had a little look.....I think the US is the place to be....

I wonder if Aussies can buy a property over there or if you need approval like here?

I'm pretty sure foreign buyers can purchase property in the States, I seem to remember reading and article about investing in property.