An Associated Press article was just published about a tiny 77 Square Foot (That’s not a Typo… it’s only 77 SqFt) apartment for sale in the exclusive neighborhood of Knightsbridge in London, England for an asking price of $335,000 !!! That works out to be a whopping $4,350 per Square Foot. And get this, this tiny apartment does not have any heating nor electricity… The Buyer has to add that for an additional estimated cost of $59,000…. Ouch! The kitchen is two hot plates and a small sink… The shower is the size of a coffin. The real estate agent for this property says “If you thought of this as the cabin on a boat, you’d say ‘It’s pretty spacious’ “.
Evidently they say Knightsbridge is one of the wealthiest neighborhoods in the world. Prices have risen 22.4% in London last year, while prices have dropped here in south Orange County about 8% in the past year. The article goes on to say that prices can reach $5,900 per square feet in some parts of London, $5,300 per Square Feet in parts of New York and $3,950 in Hong Kong.
Let’s compare this to south Orange County CA real estate. One can buy a 1 bedroom, 1 bath, 700 Square Foot Condo in Dana Point with a 2 car Garage (not included in the square footage) for $330,000… That works out to be $471 per Square Foot… Heck it even comes with a Forced Air heater and Electricity ! Not only that, it’s just a 1/2 mile walk to the Pacific Ocean. You can even buy a 2 bedroom, 2 bath, 864 square foot Condo with 1 Car Garage and a Panoramic Ocean View in San Clemente for $500,000. That works out to be $578 per Square Foot. I’ve never been to Knightsbridge, but it’s hard for me to image how life in Knightsbridge could be 10 times more valuable then living in south Orange County. I don’t think Knightsbridge apartment offers an Ocean View being that it’s about 15 miles from the English channel.
Here in south Orange County you’re adjacent to some of the most beautiful beaches in the country, with arguably some of the best weather in the World with moderate temperatures year round and low humidity. The south OC has high paying jobs with low unemployment, and some of the lowest crime rates in the Nation. I can drive 2.5 hours and go skiing, or skip to the beach for some wave boarding (sorry I don’t Surf), and a bounty of other outdoor activities in the Mountains, Deserts, Parks and elsewhere. One can find a wide variety of recreation and entertainment options within a 1.5 hour drive, such as Disneyland, Knott’s Berry Farm, Sea World, Wild Animal Park, Hollywood, Universal Studios, world renowned San Diego Zoo, world class golf courses and so much more. We’ve got one of the nation’s best state Universities in UCI, and an excellent Public school system…. and I can go on.
I know I’m probably sounding a bit snobbish and un-worldly, but I’ll take the 1 bedroom Condo in Dana Point at $471 per Square Foot over the $4,350 per Square Foot apartment in London hands down…
If you would like more information about these bargain basement priced Condos for sale in Dana Point or San Clemente, just give us a call at: 949-388-3396, or drop us an email at Info@SearchOCHomes.com , or visit our website… www.Search-OCHomes.com
