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Friday, May 18, 2007

Modest cost of land in America

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.

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