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The World's Most Expensive Properties

Did you ever wonder how those expensive properties came to be? Somehow properties grew and grew until the market that supported them called for a lot of money to change hands in a purchase. The following is some information about how those properties became expensive, and where you can find some of the most expensive properties in the world. Now, most of us will never be able to afford anything like that, but it is always fun to figure out how this all happened. You need to make sure that you are setting your own property up for growth, and you might be able to get some good tips.

Strong Value

The key to creating expensive properties is not by having large jumps in value. Large jumps in value can also lead to large decreases. The main factor is that a property has strength over a long period of time. This strength will help the property grow and grow at a solid rate. This is why you should not be discouraged if you do not see major growth one year. Just as long as your property remains strong then everything will work out greatly. Most of the market does not see this major growth anyways. Look more towards sustained growth.

Confidence Plays a Big Role

There are some places in the world that people just realize will be expensive. They have confidence that money passes through there, and this confidence will sustain them. Other places may not be so lucky. There are times when people just assume that a real estate market is going to fail, and that is what drives down prices in smaller markets. While these small markets are always trying to play catch up, the larger markets are sustained based on confidence alone. This may seem like a nonfactor, but it really is one.

Most Expensive Markets

London, Monaco, Hong Kong, Manhattan, St. Jean Cap Ferrat. Do you know what all these markets have in common? For $1.5 million, you would be able to purchase a small studio apartment. Now, to many of you that might sound crazy, but that is why these are some of the most expensive properties in the world. Another thing that these places have in common is that they all are booming in industry, entertainment, and culture. Many people want to be there, therefore the market is going to become more competitive and more expensive. Sometimes things do not have to be "nice looking" in order to cost a lot.
National Rate Averages

Mortgage Rates

Product Rate
5/1 yr ARM 3.147%
1 yr ARM 3.299%
15 yr fixed 3.221%
30 yr fixed 3.815%

Home Equity Rates

* Updated Jun 8, 2012