Interesting Real Estate Facts from around the World

real estateThe real estate industry generates a lot of buzz globally. Worth billions of dollars worldwide, it is regarded as one of the best sectors to channel your long-term investments. And like any industry, real estate has its fair share of myths, figures and technological advancements. From crazy prices to weird superstitions, here are our top 17 interesting facts about real estate from around the world:

1. The White house is believed to have an approximate value of 110 million dollars.

2. In some countries around the world, there are five times as many vacant houses as there are homeless people – pretty depressing, right?

3. The architect who designed the Chrysler building in New York built in a 125 foot long extendable spire. He wanted to win the competition for the World’s tallest building. When his competitors completed their buildings, he pushed up the spire and was able to add 119 feet to the total length of his building.

4. The land currently housing Apple’s data server in North Carolina cost about 1.7 million dollars per acre. They bought it from an elderly couple who paid only 6,000 dollars for it 34 years earlier. Talk about super profits.

5. According to Forbes.com, the most expensive real estate in the world can be found in Hong Kong. Luxury homes cost an average of $11,000 per square foot with a typical home size of about 5,200 square feet.

6. Chinese real estate is so advanced that their builders can erect large structures (up to 30 stories high) in about 2 weeks. The make use of preassembled components, thereby drastically shortening the construction time.

7. The state of Utah in the U.S has one of the lowest homelessness records. Since 2005, they have reduced the homeless population by as much as 74% by giving out free homes.

8. During the great depression of the 1920s, Charles “Pretty Boy” Floyd, an infamous gangster received a high approval rating from the general public. He destroyed mortgage papers during each bank robbery, thus freeing a lot of people from debt. A Robin Hood of the Great depression so to speak.

9. In India, the richest man Mukesh Ambani built a home for one billion dollars. With 27 floors all habitable, and six floors for parking that can contain up to 168 cars, the house requires an approximate staff capacity of about 600 just to maintain it.

10. The world’s tallest building today is the Burj Khalifa in Dubai. Standing at almost 830 meters, it is so tall that if laid horizontally end to end, it can stretch over a quarter of the way around the world. It also holds other World Records like the utmost outdoor observation deck in the world, and the tallest service elevator in the world.

11. Going by historic precedents, April is regarded as the best month of the year to sell your real estate. Though sometimes regarded as just a myth since every day there is always someone out there looking to buy, it is commonly believed that winter and summer provide better prospects for sellers.

12. If you’re a real estate seller in New York, you are legally obligated to inform potential buyers if the property is believed to be haunted. Whether it is by Casper the friendly ghost or the soul sucking villains of Ghostbusters, full disclosure is required by law.

13. In Scotland, to signify that they have overcome the challenge of paying off their mortgage, folks usually paint their front door red. This ritual is not restricted to Scotland alone, some places in the world paint the front door of the house red too but for other reasons. In biblical times, a painted red door was believed to ward off the angel of death from striking their firstborn children, Feng Shui believes positive energy is drawn to a home by painting the door red, and in early American culture, a red door was a sign to travelers that the house was safe to lodge in for the night.

14. Installing brass doorknobs is healthy. The ions in brass have been found to have a lethal effect on dangerous microorganisms. This is known as the Oligodynamic effect, discovered in 1893 by the Swiss gentleman, Karl Wilhelm von Nägeli. He determined that brass doorknobs had the power to disinfect themselves from viruses, fungi, algae, and other microbial cells within eight hours.

15. Way back when the first instances of housewarming came to light, they were literally warming the house. Invited guests would bring firewood as housewarming gifts and lit all the fireplaces. This was believed to be aid in ridding the house of evil spirits or wandering ghosts. It was believed that in order to have a happy home, you had to smoke those spirits out by making the home too warm for them to stay there.

16. In the city of Ermelo, Holland, a real estate broker devised an ingenious plan to promote a quick tour of his property by building a roller coaster through it. This certainly attracted lots of potential buyers who seemed intrigued by such creativity. That’s some out-of-the-box thinking, wouldn’t you say?

17. Finally, did you know that Google mows its lawns with goats? This is an eco friendly and much quieter alternative to mechanized lawn mowers. Sounds pretty cool, right?

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