What is the cheapest real estate in the world?

Answer by  patti (29325)

It is difficult to say. The "cheapest" would be the least desirable, land without access, water, arability, etc. The sale of real estate is predicated on value, not worthlessness.

Answer by  PatWilliams (27)

The value of real estate is determined by three things: location, location, location. A value given to a location is typically determined by the surrounding neighborhood. Some factors that may influence this value are: good schools, nearby amenities, and local attractions. Cheap real estate, therefore, typically would be found in undesirable locations such as indigent neighborhoods or poor school districts.

Answer by  davidsmith4deltaedu (338)

I'm not sure if it's the cheapest in the world, but in the city of detroit, mi, you can buy a nice house for $500.