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Cheapest property in the world


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  #1  
Old 12-08-2010, 09:12 PM
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Default Cheapest property in the world

Just wondering, what is the cheapest property anyone has bought?

I know that in these tough economic times there are a lot of bargains out there, it would be interesting to know how cheap you can get a property now. I bought a condo in Florida earlier in the year for $40,000 which I was very pleased with and I am making a good yield on it, I have already been offered $65,000 for it.
Are there deals in places like Dubai where the market has collapsed?
My ex boyfriend bought a property in Detroit for only $10,000 but he has had problems with it. Probably best to stay away from ghettos.

At the moment I am trying to win the whole world of property competition for the condo in Las Vegas. If I win that condo then it would only cost me five pounds! Now that would be a cheap property.

Let me know if anyone has any success stories of buying properties insanely cheap.

Susie
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Old 13-08-2010, 01:39 PM
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Now's the time to buy if you have the funds.
Look for distressed sellers & negotiate hard.

I've just bought a 731m2 land plot in kotor bay in montenegro,with planning for 6x2 bed apts[75m2 each apt],584m2 of build + terraces.5om air distance from the fjord,fantastic views,water,elec,road all there.

Was up for 400e m2 @ 292,400e,i paid 133.37e m2=97500e.
Thats a reduction of 194,900e.
Don't believe estate agents about below market value,do your own research so you know the history of prices in your chosen area,you'll then be better placed to spot a bargain.

In other words buy when every one else is'nt,if your reasonably sure the market will return in your chosen destination.
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Old 01-01-2011, 03:05 PM
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i think the best value in the world has to be the US, we are buying at 80-85% less than peak pricing, eg a condowhich sold in the peak at $190k can now be bought for $20k. There are probably stuff cheaper but buying in a safe, regulated country with transparent property laws and a established secondary market at these prices is great.
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Old 01-01-2011, 09:04 PM
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About 5 years ago a friend brought a mill in rural France for 12,000. Not as cheap as some of the properties bought but it is beautiful and was structurally very sound.
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Old 06-01-2011, 06:16 PM
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Quote:
Originally Posted by Conroy View Post
if you want to know where you can bought cheapest property in the world , ASIA is the place to go for buying cheapest property .
Asia is a big place, can you be more specific... country, region, town, neighbourhood? Thanks
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Old 06-01-2011, 06:36 PM
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Quote:
Originally Posted by Spyglass View Post
i think the best value in the world has to be the US, we are buying at 80-85% less than peak pricing, eg a condowhich sold in the peak at $190k can now be bought for $20k. There are probably stuff cheaper but buying in a safe, regulated country with transparent property laws and a established secondary market at these prices is great.
There are places in the US where you can gain title to entire blocks for little more than agreeing to pay taxes. A lot will have to change, though, before you see positive moves. Redeveloping this property alone is likely not enough to generate profits. States like Florida, Nevada, California have some great opportunities for regrowth if you get the neighbourhood right.

What areas have you looked at and what neighbourhood did you buy in? Other than it being really cheap, what convinced you to buy there? Thanks
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Old 09-01-2011, 06:57 PM
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Quote:
Originally Posted by Spyglass View Post
i think the best value in the world has to be the US, we are buying at 80-85% less than peak pricing, eg a condowhich sold in the peak at $190k can now be bought for $20k. There are probably stuff cheaper but buying in a safe, regulated country with transparent property laws and a established secondary market at these prices is great.
Brought my 2 bedroom in Singapore for S$535,000 in June 2006, valuation by Citi Bank in June 2010 at S$1.25 million.

Very fortunate did not buy anything while in US from 2001 to 2005 else under water now.
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Old 10-01-2011, 01:24 PM
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How much would you be expecting to pay for a property in South East Asian countries for example and what do you get for your cash there?
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Old 19-01-2011, 04:25 PM
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Default The cheapest ever I think

I bought 2 houses in Bulgaria in 2005.

The one I lived in cost 1,000 GBP and had 2 bedrooms and living room plus extension, a verandah and rooms for a bathroom and kitchen to be installed. I also had a barn, outbuildings, cellar and huge loft space plus 1,000 sq metres of fenced garden.

The 2nd is a derelict hosue sitting on 1,000 sq metres of garden which I bought for 500 pounds for the land alone.

Both nicely situated in a village and I eventually sold house number one for 20,000 pounds and bought another, where I now live, for 3,500 pounds in a town rather than a village.

Factor in any renovation costs and with a careful eye you can find real bargains in BulgariaIt is lovely here and, having been here for almost 6 years, I can see the vast changes and improvements being made on a daily or weekly basis.

Beautiful country, great almost organic food, cheap cost of living and lovely friendly people...what more could one want?

Last edited by Veronica; 21-01-2011 at 06:55 AM. Reason: advertising
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Old 21-01-2011, 05:17 AM
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The thing is just because property is cheap doesn't mean it can't fall again in price. Here's an interesting blog article about global house price crashes, which countries have been impacted so far and which ones haven't.

<snip>

I'd be very wary about buying in Australia or Canada right now for a start! On the surface property might seem cheap in some countries, but that doesn't mean you're getting a bargain.....

Last edited by Veronica; 15-05-2011 at 09:25 PM. Reason: Removing link to competing services
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