In this article, I will share some interesting real estate facts that might force you to think and wonder. Plus few fun facts and some of the highest-priced residential buildings in the world. You know some of them, like the price of England’s Buckingham Place, India’s Antilia and many more.
These property facts are not common, and you have never heard of them (maximum of them). First, I will share a few historical real estate facts and then some interesting and funny facts. Let’s start with the largest real estate deal till now.
Table of Contents
1. The Largest Land Deal in History
As per the data, the Louisiana Real Estate Purchase was one of the largest land deals in human history as ever recorded. The united stated bought the huge land of approximately 827,000 square miles from the French First Republic for $15 million in 1803, which would be equal to more than $200 million today.
2. World’s First Hotel
The City Hotel in the United States is one of the earliest hotels, established in 1794, and has 73 rooms. The phenomenon has become so popular that many similar hotels were built around the county and overseas, in cities like Philadelphia, Boston, and Baltimore.
3. The Oldest Real Estate Brokerage Firm
Baird and Warner is the oldest real estate brokerage firm in the world and the United States, established in Chicago in 1855. It is one of the principal brokerages that won several awards.
4. The Start of Real Estate Taxes
The first date of property taxes, according to early historians, occurred during the 14th and 15th centuries in England. Then when the British colonized the United States, they brought the idea with them.
And with time, it becomes the primary source of income for budding cities and towns and developing public services. You may know that trade taxes are dated from Roman times or even earlier, but the ideas of property taxes began in the 15th century.
5. The Cost of The White House
Do you know how much the White House cost? When it was built in 1790, the total development cost was about $233,000. Today it’s a priceless piece of real estate and will not be available for sale or will ever get any value.
Read also: The best real estate quotes to cheer you up
Top Ten Interesting Real Estate Facts
- The most expensive home in the world is Buckingham Palace in London, with an estimated value of $1.55 billion, but some analysis says its value is over $5 billion.
- The Antilia is the residential house of Mukesh Ambani, which is worth around $1 billion, located in Mumbai, India. It has six stories for car storage and requires more than 600 staff to maintain it.
- Half of the rental properties in the USA are owned by individual investors. And the other half is owned by corporates.
- Over 90 percent of all millionaires built their fortune through real estate investing. As you know, you can not make more land.
- Homes in Australia are the largest homes in the world.
- Homes in Hong Kong are the smallest homes and the most expensive real estate market in the world.
- The most expensive zip code in the USA is 94027. it is located in the Bay Area and has an average home value of over $7 million.
- The cheapest city for renters is Springfield in the US. One-bedroom apartments rent for an average of only $630.
- There are over 140 million housing units in the USA, with a population of about 330 million. It means 2.3 people per housing unit.
- There are no old houses in Japan, seriously. In Japan, a home loses all its value after 30 years. When someone moves out, the house is demolished and a new one is developed, on that spot.
Top Ten Fun Real Estate Facts
- Over 45 percent of people say they have lived in a haunted house or experienced something supernatural.
- In some countries, people build Spite Houses to piss off other people.
- The landlords of Arkansas do not have to maintain their properties, and if the tenant got late just by one day for their rent payment, they might go to jail.
- Over 70 percent of the land in England is owned by 1 percent of the population descended from William’s army.
- When Apple was building a data center in North Carolina, a family who had lived there for 34 years refused to sell it. The initial offer was $182,000. But after many efforts, Apple paid them $1.7 million to leave.
- Someone became a real-life millionaire by selling virtual real estate in the online game called The Second Life.
- You don’t believe that in Japan homes are considered depreciating assets not appreciating. Around half of all homes are destroyed by the time they are over 30 and rebuilt.
- Half of the private lands in Scotland are owned by just 432 people.
- There is an island in Alexandria Bay called Just Enough Room, and magically, it has just enough room for a house and a tree!
- The landmark Hollywood sign originally read Hollywoodland and was constructed in 1923 to sell real estate.
So these are the most interesting real estate facts I have discovered online, and they are fascinating and also funny. The Japanese homes do not appreciate the fact got me to laugh hard. What do you like the most? Let me know. Thanks for reading. See you soon.