Sofia is Europe's Cheapest City for Luxury Apartment Buyers

Business | January 17, 2007, Wednesday // 00:00| Views: | Comments: 0

Monaco is the most expensive location to buy a super-luxury apartment in Europe, followed by Prime Central London, Paris and Amsterdam, say the experts from Global Property Guide, who maintain the world's single biggest collection of house price indices.

Sofia is at the bottom of the ranking with prices averaging EUR 1, 042 per sq. m. Other less expensive locations are Slovakia's Bratislava (EUR 1,292 per sq. m.); Warsaw, Poland (EUR 1,175 per sq. m.); Skopje in Macedonia (EUR 1,125 per sq. m.) and Chisinau in Moldova (EUR 917 per sq. m.).

Luxury apartments pricing levels average EUR 24, 900 per sq. m. in the top scorer Monaco. Closely on its tail is Prime Central London, where 120 sq. m. super-luxury apartments can cost EUR 1,742,656, or EUR 14,522 per sq. m.

Paris and Amsterdam follow London. A 120 sq. m. apartment in either of these cities has an average purchase price of EUR 800,000 (EUR 6,667 per sq. m.).

Moscow is Europe's sixth most expensive capital for buyers of residential property.

Dublin makes an appearance among Europe's most expensive cities in 10th place, with a high end 120 sq. m. apartment on average costing around EUR 600,000.

Sofia is among the four Eastern European capitals, which earn above 10% rental returns on owning apartments: Chisinau, Moldova (14.13%); Warsaw, Poland (13.28%); Sofia, Bulgaria (10.56%); and Bratislava, Slovakia (10.06%).
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