What the average sales price of a New York apartment could buy you elsewhere
LAHORE, JULY 27, 2015: The average price to buy a Manhattan apartment hit a record US$1.87 million in the second quarter of this year – an 11 percent increase on the same period in 2014, according to a report from Douglas Elliman Real Estate.
As the price to buy real estate in New York City skyrockets, Pakistan’s number one property portal Lamudi.pk looks at what the average Manhattan apartment is worth elsewhere in the world.
An island lot in the Philippines
Cost: 80,000,000 Philippine pesos (~$1.84 million)
Of course you could buy an apartment in Manhattan with that spare $1.87 million. Or, for roughly the same price, you could get 215,000 square feet of beach frontage in one of the Philippines’ best island destinations. Located in El Nido on the scenic island province of Palawan, the lot has two hectares of land and hotel villas right on the beach.
Two private riads in Morocco
Cost: 9,126,600 Moroccan dirham (~$935,700 each)
Located in the heart of the action in Marrakesh’s Medina neighbourhood is this five-bedroom, five-bathroom riad. These traditional Moroccan properties have beautiful interior courtyards and gardens, and are often used as guest houses. For the cost of the average apartment in Manhattan, you could afford not just one but two of these beautiful properties.
A luxury retreat in Indonesia
Cost: 24,666,000,000 Indonesian Rupiah (~$1.83 million)
Eight spacious en suite bedrooms, large living and dining areas, a wine cellar, an 18 meter swimming pool and a reception area. These are just some of the features you can get for less than the cost of the average Manhattan unit – if you take your property search to Bali, Indonesia. This classy piece of real estate serves just as well as a luxury retreat for your family or as a small boutique hotel. The choice is yours.
Three high-end apartments in Mexico City
Cost: 10.2 million Mexican pesos (~$630,000 each)
These three-bedroom luxury units can be found in the Edificio Basalto in Santa Fe, one of Mexico City’s major business districts that is particularly well known for its shopping – it is home to the country’s largest mall. Apartments in each of the development’s three towers have large terraces and great views. Residents get bang for their buck, with access to a host of amenities including a fully-equipped gym, indoor swimming pool and tennis courts.
29 plots of land at the base of Mt Kilimanjaro
Cost: 124,627,601 Tanzanian shillings ($63,000 each)
Located near the town of Usa River in northern Tanzania, this plot of land has views of Africa’s highest peak, Mt Kilimanjaro. The one acre plot is sold on a leasehold basis for a period of 99 years, with automatic renewal. The land is 25km from Arusha town and close to Kilimanjaro International Airport. By comparison, the average Manhattan apartment is worth nearly 30 of these plots in a truly stunning part of the world.
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