10 years ago, the market value of land located within 30 minutes of downtown Columbus (Ohio) was about USD 20,000 per acre. Today, it is probably worth about US$40,000 per acre, or USD 1 per square foot. Land in Singapore cost about 200 times of this price.
If you buy a property in Singapore, the cost of the land probably takes up about 70% of the total cost. In America, you get a large piece of land, and it probably takes up only 30% of the total cost of the property.
Land is abundant is the US, but labour is costly. Cost of living is high too. Land is scarce in Singapore, but labour is much cheaper. And as Singaporeans, there are many benefits living in Singapore.
ReplyDeleteUS is beautiful! The land may come in handy for retirement...:)