By Andrei Skvarsky.
There is “an abundance of affordable luxury real estate on offer”, says Paul Philipp Hermann, co-founder and managing director of global online real estate trader Lamudi.
Ethiopia offers the cheapest deluxe real estate, costing on average $447.87 per square metre, according to a 20-country luxury property price ranking list compiled by Lamudi.
On the other hand, deluxe property in Angola, the United Arab Emirates and Qatar is so expensive it leaves New York and London far behind.
Angola is the most expensive place on Lamudi’s list – luxury property there is priced at an average of $4,478.38 per square metre.
Angola’s capital, Luanda, for that matter, is on the whole the most expensive city in the world (not just in the emerging markets) for expatriate employees to live, Lamudi said in a statement, citing this year’s annual cost of living survey by human resource consultancy Mercer, a subsidiary of New York-based professional services firm March & McLennan.
For comparison’s sake, London is 12th and New York 16th of Mercer’s 207-city list.
The Philippines has the lowest deluxe real estate prices in Asia – $1,218.34 per square metre on average.
Mexico has Latin America’s cheapest luxury property, which is sold at an average of $763.03 per square metre.
The average prices in Qatar and the UAE are $3,985.35 and $4,109.77 per square metre respectively.
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