Downtown Cairo is seen as one of the least expensive major cities in the world to buy property. According to Global Property Guide’s most recent survey of prices, Cairo comes out as the best deal, with an average price per square meter of US$574. The survey based its figures on the average price during 2008 of a high-end apartment in the city center of 112 cities around the world, and it used the US dollar exchange rate from January 27, 2009.
As many residents of Cairo and home buyers move out to new communities that are on the edge of the city, such as NewCairoCity, prices for the downtown area have become less expensive. There is still plenty to see and do in this vibrant city, with historical and cultural sites abounding.
Other cities that have very low property prices in the downtown area are Bangalore, India, Concepcion, Chile, Quito, Ecuador and Chengdu, China. The list was topped by Monte Carlo, which had a price per square meter of $47,578.
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