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Exchange Rate and a Speculator's Curiosity

In reference to pastilla's recent post about million dollar homes... as of today one million US dollars is equivalent to about 710-thousand euros.

How much of a house and property could one purchase in, say, Belgium, for 700,000 euros? Are other European countries less expensive, more expensive, or are prices pretty much the same everywhere? An English friend of mine used to tell me about a one square mile piece of property he looked at in Spain for something like 100,000 pounds, or a quarter of a million dollars. During my brief trip to Spain last year, my observations did not corroborate his claim about inexpensive property.


( 2 comments — Leave a comment )
Sep. 21st, 2007 07:20 pm (UTC)
I haven't got a clue about housing prices around here.
All I know is that they are reasonable. Much lower than in the Netherlands. And the housing market has just crested a top, now there are more houses for sale than there are buyers needing one so the pices are slowly sinking.

For a large house in town but not in a premium location you should be looking at 300.000€ to 500.000€.

I'll check out prices when I get some time.
Sep. 22nd, 2007 10:49 am (UTC)
There are lots of houses for sale. But nobody advertises a price. Almost.
Here, and probably in most places, houses are not sold like food or appliances where you can check the price and actualy pay what's on the sticker. Houses are sold on auctions so they don't have have an advertised price. At best you get a starting price, at which point the bidding starts or an asking price, what the seller hopes to get. But you only get these prices if you call and show intrest in buying or when you go to the actual auction.
Also remember that one has to add sales taxes and registration fees which pull the price up by a good 25%.

I picked up an immo-newspaper (all about housing).
The lowest asking price I noticed was 40.000€. But that was for a small pretty old row-house.
The highest asking prices was just under a million € but that was actually a small appartment building.
My guess was right on though. Most of the townhouses, row or half-open ran around the 300.000€ with the bigger ones -a bit similar to the $1M houses- going well up to 500.000€.

( 2 comments — Leave a comment )

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