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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