Agreed, same situation happen in Malaysia, e.g Vista Apartment at Klang asking price was 100K year 2010 –>150K in year 2013.
It’s now “official” – five year statistics published by RP Data-Hedonistic index show that lower priced properties appreciate at a faster rate (3.4% pa) than prestige properties (1.6% pa)
The logical reasoning behind these figures is quite obvious – there are more people who can afford a lower priced home.
But we all “knew” that – but finally we now have the figures to back up our natural logic.
I’m Bernard Kelly
Australia’s Retirement Strategist®