MercoPress. South Atlantic News Agency
Value of London's real estate is worth as much as Brazil's annual GDP
The real estate boom has added 1.5 trillion dollars to the value of British homes over the past five years and left London residential property worth as much as Brazil's economy. Research by estate agents Savills shows U.K. houses and apartments were worth £5.75 trillion (8.7 trillion) in 2014, an increase of almost one trillion pounds since 2009. Read full article
Comments
Disclaimer & comment rulesIts not surprising. London is booming at the moment. Unbelievably so.
Jan 19th, 2015 - 07:40 am - Link - Report abuse 0Although the economy is incredibly strong, Im so so sure that the housing market will hold up. Still It makes my house worth aLOT more
I read somewhere else that California is about to take over as the world's 7th largest economy from Brazil!
Jan 19th, 2015 - 07:42 am - Link - Report abuse 0Wow!
As for this property worth, like all real estate, it is only worth what someone is willing to pay for it. And if rich idiots want to pay millions for it, so be it. Eventually the bubble will burst and the prices come down.
However, this must be worrying for Brazil right now, whose economy isn't doing nearly as well as their government predicted it would.
Everyone wants a piece of the greatest city on earth.
Jan 19th, 2015 - 10:58 am - Link - Report abuse 0@2. Don't bet on it. I've NEVER seen London property prices come down. Oh, a few hundred, maybe. But London property is well-built with a range of styles to appeal to everyone. One area may drop, but another will rise. CaptainSilver isn't far wrong! Years ago, I would never have believed that places like north London, Kilburn etc would become so popular and pricey. But they have done.
Jan 19th, 2015 - 11:48 am - Link - Report abuse 0The fact that this website and the four morons before me here are comparing paper asset prices (real estate value in any given day which are unrealized output), with ACTUAL real economic output, production, and consumption that actually DID take place (was realized), is all one needs to know about the utter daftness, jingoism, stupidity, and grandiose paucity of perspective these fools possess. This entire page brims with a dearth of cogency.
Jan 19th, 2015 - 07:04 pm - Link - Report abuse 0Comparing actual GDP to asset prices is like comparing someone with an active vocabulary of 2000 words but a dictionary with 10.000 words, vs someone with no dictionary and an active vocabulary of 10.000 words, and claiming that A is more educated than B.
God forgive these ridiculous cranimals.
@5 CruisingOutOfControl, 4Ntrolley, GiorgyPorgy....you're back....seems your vacation did nothing to clear your head....you're still spewing the same rubbish.
Jan 19th, 2015 - 07:48 pm - Link - Report abuse 0I'm right. GDP ≠ Asset prices.
Jan 19th, 2015 - 07:58 pm - Link - Report abuse 0End of story.
@7 Sure Giorgy, you are always right.....right out of control.
Jan 19th, 2015 - 09:09 pm - Link - Report abuse 0#5
Jan 20th, 2015 - 10:49 am - Link - Report abuse 0???????????????????????????????????????????????
“Value of London's real estate is worth as much as Brazil's annual GDP”
Jan 20th, 2015 - 08:26 pm - Link - Report abuse 0it seems the 4th class newspaper is not aware that the british pound is ridiculously overvalued and that their housing bubble is about to burst.
it is illogical that a pigsty in london's east end, for instance, costs +/- 1 million dollars.
it is a time bomb.
@10
Jan 21st, 2015 - 04:19 am - Link - Report abuse 0None of that even matters. Comparing GDP to an asset value is as clueless as it gets.
Heck then, let's compare Argentina's GDP in pesos vs the UK... we win because there are more zeros!
It is almost literally the same thing. Unrealized paper value vs actual production. It is laughable to even suggest anything beyond what it is: just an asset with no actual output until it is realized. The morons here talking about Brazil's economy “tanking” because of the value vs UK asset prices are simply imbeciles.
@11 CruisingOutOfConTroll
Jan 21st, 2015 - 04:04 pm - Link - Report abuse 0“The morons here talking about Brazil's economy “tanking” because of the value vs UK asset prices are simply imbeciles”.....
YOU are the moron here....No one is suggesting that Brazil's economy is “tanking” because of the value of the UK housing market.....It was a simple comparison, with no intention other than to draw attention to the value of the latter. There is NO relationship between Brazil's economy and the UK housing market...seems you got lost in your thoughts - a territory you aren't too familiar with - and jumped to your own silly conclusions.
@12
Jan 22nd, 2015 - 03:04 am - Link - Report abuse 0agreed. a simple comparison, that's all. One can take it as one does if this is valid journalism or not, it certainly isn't the be all, and end of all, just some opinion/journalism comparasion.
Only idiot trolls get over-excited about such matters, they believe anything on the internet without qualification as they have no real-world experience....
trés amusing, non?
@5 and @10
Jan 25th, 2015 - 12:13 am - Link - Report abuse 0Amaze and impress us. What's the combined value of real estate in Buenos Aires then?
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