Close Topic Options

Ridiculous Real Estate Prices Around The World

Ridiculous Real Estate Prices Around The World

I live in a country where a half descent location to buy a property costs millions of US dollars. Nothing fancy, no pool or anything like that but yet they want more money than it costs to live in Hollywood. I used to think it was just this Banana Republic I live in but other countries have the same predicament.

World The Prices Estate Real Ridiculous

Sometime ago, I saw a two bedroom apartment here for US$3.5M. No, it is not a joke.

This is what you can get in Hollywood Hills, which is considered a top area, for less than US$1M:

Source 3b / Source 3t.

Ridiculous Real Estate Prices Around The World History & Civil Business Politics

Sometimes I wonder if its because of the ridiculous taxes in the USA? While the house might be initially cheaper than elsewhere you end up 'buying the property' again and again each year through taxation.

World The Prices Estate Real Ridiculous

That's correct which I really don't understand because the amount they have to pay is way too high in the end in order to keep it.

World The Prices Estate Real Ridiculous

Probably that will change for the US because of Trump but it won't change for the rest of us mostly because of foreign companies that buy these properties at ridiculous prices making the locals unable to match a bid. I don't know if its true for Australia or elsewhere.

Ridiculous Real Estate Prices Around The World

I am seriously looking at Costa Rica and similar places. I don't think the real estate market locally will ever change.

Ridiculous Real Estate Prices The World

JB,

It would be nice if President Trump could change our property taxes here, but they are levied by local laws. It's the town, city, county, and even state levels that levy these taxes so Congress and the president have nothing to do with it. This is how we pay for schools, roads, local improvements, line politicians pockets, etc.

They are crazy too; there is no rhyme nor reason, just what the market can bear. My 93 year old retired father's taxes were $13k per year before he died last year. The taxes were really hurting his standard of living since they had gone up astronomically since his retirement. Mine are $6k per year and my house is worth triple his. We also get taxed depending on location on our vehicles, boats, RVs, and even our pets.

I sure didn't know prices were that crazy around the world. I've been looking at maybe buying real estate in another country, maybe somewhere in South America, where the cost of living is much lower, and real estate is still reasonable there. At least the country I'm looking at. Maybe I should buy before the prices jump.

Ridiculous Real Estate Prices The World Politics Business Civil & History

Abnninja, I did not know they even tax your pets, that is even more ridiculous than I thought. The overreach of government on the earnings and enjoyment of its citizens can be seen as totalitarian in nature. We have also considered other countries that might be 'cheaper' such as Argentina but then you have another issue: crime. I believe unless you live in the boonies you cannot escape social problems, high taxes or high prices no matter the country.