Fri 15 December 2017
Buying property is one of the most recommended investment idea practiced all over the world. People love to buy a property in a place, where there is a big demand. the developers are trying to attract more buyers by building properties in a location with increasing demand. In this article, we will discuss some of the expensive cities for living or buying properties. Modern people have plenty of options for choosing the type of homes. Individual home, condos, cottage home, are some of the popular types. Of late, condos are becoming popular due to various advantages. www.thebroadwaysa.com/biggest-benefits-living-condo/ describes the benefits of living in Condo.
Shanghai is one the most expensive cities to buy a property. For a whopping amount of $1 million, you will be able to buy a meager 46.2 sq. meter of area. The real estate prices of Shanghai increase every year up to 40%. The regulators are trying to keep the price rise under control by framing new laws and regulations.
Property in London is highly unaffordable for many people, for decades. The prices of the properties in London increases significantly every year. Though the government has introduced new policies to curb the price rise, all those attempts have failed considerably.
Beijing, the capital of China, is one of the cities, where the value of real estate properties grows significantly every year. You have to pay $5820 for a square meter of land. Many people have doubled their wealth by properties in Beijing in the past. Though this city ranks top in the most polluted cities, it is still a hot place for the real estate investors.
Mumbai in India is one of the most crowded and developed cities in the world. Developers are struggling to find a beautiful piece of land to build new properties. Mumbai is also home to a tight-packed slum dwelling in the country.
When you want to buy a property, you should pay attention to the reputation of the builders or developers. Many builders advertise their properties before they are completely built. The fact is that many builders rely on the money received through advanced booking. You should be bit cautious when you are making a pre-booking. If the builder is not reputable and does not have enough financial stability, then he may not complete the construction project on time.
You have to put a lot of thoughts when buying a property. A good property should be able to meet your living needs. Some people prefer an individual house, while some may prefer a shared property. It is necessary to find, which type of property will suit your need. Apart from the design of the home, you should also look into its location. Choosing a nice home at a nice location will surely help you in the long term.
Like any other investment, the risk lies in real estate as well. You can minimize the risks by gaining enough knowledge about the real estate industry. You should regularly read the real estate magazine to keep your knowledge updated. Taking a highly informed decision is the wise step to your real estate success.