One-bedroom apartment: comparison of rental and purchase costs
Global Property has carried out an extensive study of the property market, looking at different regions. The main objective of the analysis was to compare the cost of renting and purchasing a home. The study looked at a one-bedroom apartment with the same characteristics but in different countries.
Experts have compared the cost of buying an apartment in Latin America, Europe, Asia, and the Middle East. The study looked at properties located in capital cities or major cities. In addition to the purchase price, the analysts looked at rental rates and the profitability of properties. The study found that Turkey, Georgia and Vietnam were the most attractive markets in terms of return on investment.
One-bedroom apartment in the European region
In Europe, the highest prices for buying a one-bedroom apartment were observed in the following countries:
– a square metre on the Luxembourg market costs USD 18.7 thousand;
– in Switzerland, an apartment costs USD 15.3 per square metre;
– in the United Kingdom, a one-room apartment costs USD 14.8 per square metre.
In Luxembourg, the monthly payment is USD 1.7 thousand. In Switzerland, you can rent an apartment for USD 2.5 thousand. In the UK, it is just over USD 2,000.
In addition to the above locations, the cost of property in Milan is also significant. Here, a square metre is USD 10.3 thousand, and the cost of renting exceeds USD 3 thousand. The price per square metre is almost the same in Paris, but the rent is lower at around USD 2,000.
Latin America
The leaders in this region are Mexico and Brazil, with Uruguay in third place:
– Mexico City market offers one-bedroom apartments for USD 4.4 thousand per square metre. Rents are at an average of USD 1.6 thousand per month;
– a square metre of housing in Rio de Janeiro is USD 4.3 thousand. The monthly rent is around USD 965;
– in Montevideo, such a property will cost USD 3.7 thousand per square metre. Rent – USD 847 per month.
The cheapest apartments are in the Colombian market, and the lowest rent is in Chile.
Middle East
The most expensive location in the Middle East is Tel Aviv, Israel. Here, a square metre of flat sells for USD 15.4 thousand. Rents are USD 2.3 per square metre, cheaper than in Dubai (USD 4 per square metre).
The Emirates comes second in the price rankings – USD 9.7 per square metre.
Asia
Among Asian countries, analysts recorded high rental rates in Singapore – USD 4.6 thousand. The cost of a square metre when buying here is USD 16.6 thousand. However, the leaders in the region are Hong Kong and Taiwan. In the first case, the price of an apartment is USD 25.8 thousand per square metre. In Taiwan, similar housing will cost USD 17.6 thousand per square metre.