How much do lands cost in yr city?

Discussion in 'Odds & Ends' started by Aykhan Mammadov, Apr 10, 2005.

  1. Aykhan Mammadov

    Aykhan Mammadov Hall of Fame

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    Hey, boys it became very interesting for me.

    As I'm writing I live in Baku- capital of Azerbaijan. The country is in Caucasus and was inside former Soviet Union as other 14 republics, now it is independent. The territory is not very big, say enough, and the population is 8 mln.

    As u know we lived in socialist system, and after 1991 so to say capitalism began here, much like say as in USA 100 years ago. Azerbaijan is famous with oil. Of course, it doesn't mean u'll find it in the land u buy in Baku, only in the sea.

    Anyhow, what is the question. As u understand the economical level of the population here is very low, say per capita 100-200$ per month. It is much lower than in Europe and many other countries not talking about USA. Of course, we have some % having a lot of money. But it was strange for me to get the prices for territories or lands inside Baku which u can buy and say build yr own 2 or 3 floor house there. Say 1000 sq. meters ( appr. 33 meter x 33 meters) not in the center cost 600,000 $, the cheapest places far from the centre cost minimum 300,000$.

    These prices don't correspond to the level of the population here, and even to the level of it's more or less rich part. So contribute, please with yr knowledge in this question, how much say in the city u live 1000 sq. meters of the land cost ? I mean empty land without any houses and etc.. Also it is interesting for me how much say 2 bed appartments cost in high buildings in the centre of yr city, and in say 3-4 miles from center ? Yr partcipation is very appreciated.
     
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  2. Phil

    Phil Hall of Fame

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    Near where I live, 1,000 sqm of land will cost more than the entire land value of Azerjiaban, even if you throw in the Caspian Sea. Most expensive real estate in the world.
     
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  3. Aykhan Mammadov

    Aykhan Mammadov Hall of Fame

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    Phil, it wasn't necessary to quote my long post in order not to occupy so much place.

    Probably yr place is something extraordinary, anyhow interesting to get it's price for 1000 sq.m without any jokes. By the way if I throw myself into the Caspian sea I'll become very rich, there is a lot of black caviar.

    My goal was to get some serious information about lands prices in different US and Europe cities as well as appartment prices as the prices here in my poor country seemed to me ubnormal and not corresponding to the level of the population.
     
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  4. Camilio Pascual

    Camilio Pascual Hall of Fame

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    Ohio River bottom land for ~ $500/acre. Great farming land. Col. Kurtz (Apocalypse Now) describes 5 miles along the Ohio River as: "you'd think that heaven fell on earth in the form of gardenias." Amen, I know what he is talking about.
     
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  5. Aykhan Mammadov

    Aykhan Mammadov Hall of Fame

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    Camilio has that place communication with the city ?How far is it from the city? Such a cheap? 4000 sq.meters for only 500$ ? U are joking.
     
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  6. J D

    J D Rookie

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    Yes, 1 Acre = approximately 4,000 square meters. In the US, rural land sells for an average of about $2,000 per acre. In most large cities, a one acre lot will run $60,000 to $200,000, depending on the city and location. I would imagine an acre in downtown New York would run several million.
     
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  7. cak

    cak Professional

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    Here on the San Francisco Bay Penninsula, in Californaia, in a suburban setting, lots are around 10,000sq feet, so about 1000sq meters. Price for a lot runs about $1.6 million. (Yep, about $5million a flat acre.) This is area with full services, water, sewer, power, telephone, cell service. (DSL, cable, and all sorts of stuff you probably don't want to think about.)
     
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  8. J D

    J D Rookie

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    Cak, yes, I should have added L.A. and San Fran (along with a few other cities) to that list of ridiculously expensive places.
     
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  9. Phil

    Phil Hall of Fame

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    Aykhan - This is all true. To answer your question, the land has communication with a number of cities if you have a waterproof cell phone; in fact, much of this land is close to or IN a number of mid-sized American cities. Either Camilio or I would be happy to show you some Ohio River Bottom Land if you're ever in the vicinity of Cincinatti, Pittsburgh or Louisville. Let me know your size so we can rent you a wetsuit while you're there. Oh, BTW, do you have your SCUBA license yet? No? Best to get that before you come.
     
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  10. THE ANIMAL

    THE ANIMAL Rookie

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    There are parts of London, England that are around 25 million pounds an acre that’s just the land with nothing on it and no services. That’s around 46 million dollars an acre. But this is right at the top end of the scale.

    1 acre is roughly 4000sq meters.
     
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  11. fleabitten

    fleabitten Semi-Pro

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    Aykhan,
    I agree with you - not that I know that much about your country - but I am suprised by the prices there considering my perceptions of the economy.
    I don't shop for raw land much, but a small 500sm house in Venice CA goes for about 600,000 to 800,000. I bought a house of a similar size in Marfa TX for just 30,000. My house in Albuquerque NM of that size just appraised for 170,000 (although I bought it 5 years ago for 96,000.) So there's some serious range in the US.

    Here's an article about buying Texas land on **** for 100$ per acre!
    http://www.marfa.org/2005/03/buy-bit-of-nowhere-14-minutes.html

    fb
     
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  12. cak

    cak Professional

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    fleabitten

    A 500sm house would be 5000sq ft. That's a huge house for a older beach community, and it's less than $1million? Is it anywhere near the water?
    (My parents live in Seal Beach, and any 5K sqft mansion runs closer to $3million)
     
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  13. ty slothrop

    ty slothrop Semi-Pro

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    flea, how is the judd installation in marfa (nice avatar by the way)
     
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