Industry News

Nothing compares to condo prices in New York City

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If you're looking for an affordable condo...there's always Warsaw. Coldwell Banker Real Estate Corp. this week released the results of a Global Metropolitan Condominium Home Price Comparison Study, with New York City topping the list as the most expensive metropolitan city to purchase a condo. The average condo apartment price in New York is $1.45 million. Meanwhile, the most affordable market in the survey was Warsaw, Poland, where the average condo price was $123,257, Coldwell Banker reported. The survey, conducted between July 2005 and October 2005, evaluated average prices in 34 metropolitan markets worldwide for condominium apartments 1,400 square feet in size, featuring two bedrooms and two and one-half bathrooms, in buildings with at least 10 stories and a doorman. "Increased recreational travel and career opportunities abroad have made the world a smaller place," stated Jim Gillespie, Coldwell Banker Real Estate Corp. president and CEO. "There is an ongoing exchange of America...