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January 27th, 2012

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The Most Costly Condo In Toronto

Whether you like it or not, most prices go up all the time. This increase is called inflation, and there is nothing any one person can do about it. But you can forget about inflation with these condos, that is the least of your problems.

BuzzBuzzHome.com has said that a condo in the middle of Toronto has gone for the astonishing price of $28,000,000 and this is all before it is even finished.

Even one square foot of this prize bit of real estate is out of most of our pockets, that is even if we give up food and a roof over our heads. For each square foot, it would cost more than $3,000 and would take about 753 years to finally own the property.

As part of the Four Seasons Hotel and Private Residences development project, and positioned at the northeast corner of Bay Street and Yorkville Avenue, this is certainly a prominent development. The Four Seasons seems to have a knack for selling the most high-priced condos in the world. At $11.3m they ranked first in 2009 for selling a condominium in Seattle, which was almost identical to the price they sold one the previous year, in the same complex.

Looking away from the MLS for a moment, we also found another condo that changed owners for a high price in Seattle; $12,000,000! In fact, new condo projects were selling in L.A. from anywhere between $4 million to $14 million as soon as 2006.

Even though there are units over the $5m price range, there are very few luxurious homes that actually feature on the MLS. One of the main reasons for this, is that developers of this type of complex look to lure buyers extremely early in their plans. They just want to make sure that they sell most of their apartments before they as much as start building

When looking for apartments that are utterly expensive, then New York is definitely the first place to start, along with places such as London, Moscow and a few other places. If you have an extra $480,000 every year, you could be a tenant of one of the condos on the 35th floor of 15 Central Park West. At $40,000 per month, it is an outlay a lot of us can't afford. Perhaps you don't want to rent, maybe you would like to own an expensive unit. There is probably not a more well-to-do landlord than Leroy Schecter, who owns these condos and he tried to sell them last year at a whopping $55m.
Pottery Making: How to Make Enclosed Candles and Shakers

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