Mumbai, Delhi among world's 10 costliest cities

[white_pawn]

10 Most Expensive Cities to Own a Home​

As on February 24th, 2009

1. Monte Carlo

Who would have guessed that Monte Carlo ranks as the most expensive city in the world for the second year running… yes, right we did. With average prices of $47,578 per sq.m. it is no wonder.

Long known as the playground for party-friendly billionaires, starlets and everything in between, Monte Carlo does offer something for everyone. Let’s see, there is the casino, the stunning scenery, the Formula 1 Grand Prix and plenty of sunshine all year round.

If that is not reason enough to buy a home there what else would be. And we did mention that just around the corner is Monaco with one of the best yacht harbours in the world.

2. Moscow

Seeing Moscow rank so high is actually a surprise for us. Especially since it outranked London, known to be expensive. Moscow clocked in with $20,853 per sq.m.

Given the fact that it is in Russia, maybe all that new wealth Russian money did affect the market, skyrocketing property prices like crazy.

3. London

As already mentioned, London is only a fraction behind Moscow with $20,756 per sq.m. But given the choice we would buy in London any day before going to Russia (no offense intended). It’s just that we love London’s vibrancy and what the city can offer residents. There is never a dull moment and besides the weather - here we go again - we really love London to bits. It’s the city that never sleeps for sure.

4. Tokyo

Ranked as the 4th most expensive city in the world, Tokyo real estate costs $17,998 per sq.m. Now if you are the type who loves eternal supplies of sushi, sashimi and Kirin beer, then you should seriously consider moving to this city of glitz and neon advertisements.

Plus, you’ve got to love crowds too. And did we mentioned the Shinkansen?

5. Hong Kong

Victoria peak, harbour junks, quick access to mainland China and a sophisticated mix of ethnic races share Hong Kong, a former British colony as their home. We admit, this city kicks butt and offers a ton of exciting experiences to visitors from all around the world.

If you decide to fork out your hard earned money for your own home, then you can take advantage from hidden markets, nearby islands and lovely local beaches. If you are keen you can always visit Disney too. All of this would come at a price of $16,125 per sq.m.

6. New York

The Big Apple as New York is lovingly known is the only city in the US included in the list. Costs of $14,898 per sq.m. offer you a home in one of the most vibrant cities in the world. From Central Park to Manhattan’s skyscraper jungle you can find just about anything you want in this city.

Good food, great shopping outlets and not to forget plenty of water are all draw-cards for potential buyers.

7. Paris

The city of romance and love or so they say. Quite frankly we are not that keen about Paris. We think it is dirty and sometimes even rude. Whoever said it was a place to go for loving?

But jokes aside, it has its niceties. Take the Eiffel Tower for example, great views from the top. Or a boat trip on the river Seine should not be looked over for a weekend trip. Buying a home there though requires some decent funding with $12,122 per sq.m. not cheap but certainly more affordable than Monte Carlo.

8. Singapore

If you like clean and order, then Singapore is your city. With strict laws about littering and plenty of green in and around the city, this cosmopolite in Asia is a favourite for many. It will set you back some $9,701 per sq.m. but think how close you would be to the rest of Asia.

 

[white_pawn]

9. Rome

All roads lead to Rome, right? They certainly do. And if you find yourself lost on an European road trip in search of a new home, then Rome will set you back some $9,166 per sq.m.

But as a reward you might get to see the pope or visit the Spanish steps. One thing the Italians certainly know is how to live life and yes we forgot, how to cook. Living in a city like Rome will most certainly pile on the extra kilos.

10. Mumbai

India, or Mumbai clocks in in 10th position. Quite astounding when we think back how not to long ago we saw India as a 3rd world country.These guys have certainly busted their behinds in the race of world domination and consequently built and grown some impressive cities.

If you want to buy real estate in Mumbai, you are looking at around $9,163 per sq.m.

All of these data has been based on the average price of a 120 sq.m. apartment within the city centre and in good condition. In total, more than 110 cities around the world were surveyed for this purpose and data was collected during 2008.

 

[Nemesis]

It's not a surprise that Mumbai is on the list, the real estate prices in Mumbai are mind-boggling.

 

[Halaku Khan]

Re housing for less well-off people. There is a lot of money to be made at the bottom of the pyramid. Current real estate prices are unrealistic and the bubble is in the process of bursting.

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http://www.telegraph.co.uk/news/worldnews/asia/india/5291477/Tata-builds-the-Nano-home.html

First it launched the Tata Nano – the world’s cheapest car. Now, the company that owns Jaguar Land Rover and Corus Steel is giving India the world’s cheapest home.

By Barney Henderson in Mumbai
Last Updated: 7:31AM BST 08 May 2009

After creating the Tata Nano, the world's cheapest car, The Tata Group is set to give India the world's cheapest home Photo: AP

Dubbed “Nano homes” by the Indian media, Tata’s housing project will sell one-room, 283 sq ft flats, less than half the size of a squash court, for 390,000 rupees (£5,200) on the outskirts of Mumbai – a city where property prices compete with those in London or New York.

A more expensive option, for 670,000 rupees (£9,000) is 465 sq ft and has a living room and separate bedroom.

The cheaper property costs just 1,378 rupees, or £18.50, per square foot, thought to be the cheapest urban real estate in the world. Like the £1,300 Tata Nano car, the homes are aimed at Indian families who could not normally afford to get onto the property ladder.
Millions of slum-dwellers are expected to jump at the chance to own a home in a proper building.

“This is a huge opportunity to serve those at the bottom of the pyramid,” Brotin Banerjee, CEO of Tata Housing, said. “Our inspiration is the millions of Indians who cannot afford proper housing and live in shanties.”

Tata Housing expects a turnover of 1,000,000,000 rupees, £13.4 million, in the first phase.

“Parents don’t want their children to grow up in unhygienic shanties. It is the dream of anyone in the world to own their own house and that is what we are offering – brand new homes in clean, hygienic, well-built buildings,” Mr Banerjee continued.

The first complex of 1,000 homes is under construction in a town called Boisar, 60 miles from Mumbai.

It will include a hospital, school, playground and gardens.

By the end of 2009, Tata Housing plans similar projects in Delhi and Bangalore. The group may eventually expand the model to Europe or the US.

 

[Nemesis]

^^^^^^^ That's fantastic

 

[Hasnain2009]

If feel sorry for 350mn poor indians!!

 

[Nemesis]

If feel sorry for 350mn poor indians

Reserve your pity for the poor in your own country. Thanks.

 

[Hasnain2009]

Sorry we dont have 350mn poor!

 

[Hello_10]

9. Rome

All roads lead to Rome, right? They certainly do. And if you find yourself lost on an European road trip in search of a new home, then Rome will set you back some $9,166 per sq.m.

But as a reward you might get to see the pope or visit the Spanish steps. One thing the Italians certainly know is how to live life and yes we forgot, how to cook. Living in a city like Rome will most certainly pile on the extra kilos.

10. Mumbai

India, or Mumbai clocks in in 10th position. Quite astounding when we think back how not to long ago we saw India as a 3rd world country.These guys have certainly busted their behinds in the race of world domination and consequently built and grown some impressive cities.

If you want to buy real estate in Mumbai, you are looking at around $9,163 per sq.m.

All of these data has been based on the average price of a 120 sq.m. apartment within the city centre and in good condition. In total, more than 110 cities around the world were surveyed for this purpose and data was collected during 2008.

Western media is habituated to do publicity of bluffs, to maintain their superiority based publicity. I don’t know how they changed most of the rankings during last 4-5 years. It all started when they changed their way of measuring GDP on PPP in 2006 and since then, they are just doing publicity of their bluff of greatness this way, by doing wrong publicity of India/ China type countries with whatever efforts they can make.

Interestingly, while acknowledging that a better indicator of the relative size of economies is their measure by the purchasing power parity (PPP) method — which calculates conversion rates for currencies based on how much a unit of each of them can buy in the local economy — the survey was ambivalent about the latest estimates made by the World Bank using this method.

"There are, however, practical difficulties in deriving GDP at PPP, and we now have two different estimates of the PPP conversion factor for 2005. India's GDP at PPP is estimated at $ 5.16 trillion or $ 3.19 trillion depending on whether the old or new conversion factor is used," it said.

It's official: India's a trillion-$ economy - Times Of India

I lived in Sydney for over 6-7 and in Perth for 3-4 years and it was never a doubt that having own house in Sydney is much easier than in Delhi. You gotto be very rich to have an own house in Delhi circle but it isnt that hard in Sydney. They changed all these facts during last 4-5 years. Just have a look on the news we had 3 to 6 years before and see how it changed? While, we find Indian real estate price grew during last 4-5 years due to growing economy while that of Western fell during last 4-5 years due to weak economy?

Jul 8, 2011
(In a Worldwide Cost of Living Survey, Mumbai has been ranked third cheapest place to live, while national capital New Delhi is fifth.)NEW DELHI: Government may be finding it difficult to battle soaring inflation in the country, but a global survey has found two key Indian cities, Mumbai and New Delhi, to be amongst the five cheapest places to live.

Mumbai, New Delhi among 5 cheapest places in world: Survey - Times Of India


According to the survey, Karachi and Mumbai are the cheapest cities to live in. Do you agree with these findings?

http://in.finance.yahoo.com/photos/...liest-cities-to-live-in-photo-1334120874.html

Saturday, 31 May 2008
new delhi • Despite slow growth in rentals, Mumbai and Delhi remain among the world’s 10 most expensive cities to rent office space in, according to CB Richard Ellis Group’s semi-annual global market rents survey, results of which were announced here yesterday. new delhi • Despite slow growth in rentals, Mumbai and Delhi remain among the world’s 10 most expensive cities to rent office space in, according to CB Richard Ellis Group’s semi-annual global market rents survey, results of which were announced here yesterday. However Mumbai, which was the world’s second most expensive office market during the last survey in November 2007, is now in fourth place, though its rental of $210.97 per sq ft is still 41 percent higher than it was last November.

Moscow, where office rentals have risen 93 percent since last November to $232.37 per sq ft, is now at second place instead. Delhi is now in seventh place, from eighth last November. Office rentals in Delhi have risen 15.3 percent during this period to $145.16 per sq ft, the survey said.

Office rents in Mumbai~ Delhi still among 10 most expensive | India

 

[Kyusuibu Honbu]

a 3 year old thread.

 

[Hello_10]

a 3 year old thread.

and sir please check my post '24' and see what the Western media has done during last 3 years, in between 2008 to 2012, ranking of Mumbai and Delhi has dropped from top ten to last 5 cheapest cities and also now Moscow is no where among top 50 also

while India registered much higher growth than the Western nations during last 3-4 years? even during the recession period of 2009, West faced on average -5% fall while India grew by 6.7% during that period also? how do this happen?

how do they really do this, I mean, how the publicity only can help you maintain greatness without any credibility?

look on the overall value of real estate price of Mumbai and Delhi in 2009, how do they do this? this is about, World's Most Expensive 'Residential' Real Estate Markets 2009

World's Most Expensive 'Residential' Real Estate Markets 2009

Battling for the number 2 position are prime central Moscow and London. Prime central Moscow's US$20,853 per square metre price tag slightly outpaces core Prime London's US$20,756 per square metre, though it is fairer to say the two cities are neck-and-neck.

Completing the top ten most expensive real estate markets are two European cities (Paris at 7th and Rome at 9th) and two other Asian cities (Singapore at 8th and Mumbai at 10th). Average prices range from US$9,000 per sq. m. to US$12,000 per sq. m.

http://www.globalpropertyguide.com/press-relations/Most-expensive-real-estate-markets-in-2009