Investing in the real estate industry in today’s world is always a good idea. Whether you are planning to purchase a new house, planning to acquire an additional asset or are just buying for the reason being you like owning a condo by the beach, you cannot go wrong until you make an effort to do your research and plan each and every step wisely.
While there are plenty of things you might know about the real estate industry, there are few fascinating facts which are bound to leave even your jaw dropped. As the real estate industry is one of the highest income generating industry in today’s world, more and more record-breaking deals are happening quite often. So without waiting any further, here are the 5 most interesting things one should know about the real estate industry.
1. Monaco is one of the most expensive places to own property in today’s world. The current value of a 172 square ft room is about 1 million dollars. The price is easily justified as it is a beautiful city with all luxury brands and the view from any house above the 5th floor is bound to leave people with amaze. Following Monaco is Japan and New York on the line of having the most expensive real estate.
2. The most expensive real estate deal to be recorded took place in Hong Kong. The transaction took place in November 2017 when Lee Ka Shing who is among the top wealthiest people in the world sold his centre tower which is the 5th tallest building in the city for a whopping price of 5.15 billion dollars. The structure can hold more than 400 cars, retail stores, office spaces and the main thing which one should know about this building is that the main lobby of this very building was used in the movie “The dark knight rises”.
3. The wealthiest American real estate tycoon started his journey from merely a loan of 10,00 dollars from the bank. Donald Bren from California is now worth 17 billion dollars and has come in many lists from around the world for being a “Self-made man”. Before he started his career in the real estate company and became a king in it, he
also served in the American military forces.
4. Brookfield management is the wealthiest real estate company in the world, having assets worth more than 195 billion dollars. Their main office of this company is in Canada and it now also owns 18 hydroelectric plants and has real estate in India, Ireland, U.S and many other countries.
5. The most expensive land recorded till today is in the Suez canal. This artificial sea-level waterway connects the Arabian sea to the red sea and is among the busiest waterway in the world. The toll collected generated in a year from this path is about 6 billion dollars making it the most valuable land. It stands among the most valuable waterways in the world and despite having expensive tolls, is still the most prefered route ships prefer to take.