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By Darwin G. Amojelar, Reporter
MANILA is among the world’s most affordable
cities for residential apartment buyers, a Global Property Guide
report said.
The international market research firm said a
120-square-meter residential apartment in Manila would cost $1,969
per square meter, cheaper than Bangkok at $2,819; Beijing, $2,282;
and New Delhi, $2,107.
Prices of apartments in Jakarta and Kuala
Lumpur, however, are cheaper than those in Manila.
On the other extreme, London, New York and
Moscow are the world’s most expensive cities for residential
apartment buyers.
Residential apartments in prime Central London
are among the priciest in the world at $21,800 to $36,200 per square
meter. Prime central London includes Belgravia, Chelsea, Mayfair,
Notting Hill, Knightsbridge, Regent’s Park, South Kensington, St.
John’s Woods and St. James.
New York comes in second place with property
prices in Upper Manhattan between $13,270 and $22,923. Apartment
prices in Lower Manhattan are around $12,510 to $20,456.
Moscow comes in third place with apartment
prices ranging from $10,764 to S$20,506.
For renters, Manila is the most expensive city
in Southeast Asia with a monthly rate of $2,210. Bangkok rates are
cheaper at $2,154; Beijing, $1,480; Jakarta, $1,288; and Kuala
Lumpur, $1,247.
London, Moscow and New York are also the most
expensive cities for renters. The monthly rent for a
120-square-meter apartment in prime central London is around
$13,000. In other luxurious areas in London, the monthly rent is
around $7,900 for a similar sized unit.
The rent for a 120-square-meter flat in Moscow
and New York are around $8,000 a month.
Tokyo, Paris and Hong Kong are the next three
most expensive cities for renters at around $5,300 to $5,600 a
month.
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