Executive-style homes in Tokyo and London are among the most expensive in the world, while big houses in Pittsburgh and Belfast are a relative steal, according to a new survey.
Century 21 Real Estate Corp. said a 1,650-square-foot wooden home with three bedrooms and one bathroom in the Tokyo suburbs costs about $1 million."Most North American executives earning $150,000 could not afford to buy such an accomodation and would normally rent an apartment or live in company-owned housing," explained Don Lawby, chief operating officer of Century 21 Real Estate Canada Ltd., part of the world's largest real estate company.
The Century 21 survey found that in London the average cost of a Victorian brick home of three or more bedrooms - but most likely without a parking space - runs about $707,000.
North American housing is a much better bet for the executive on a tight budget.
In New York, a nine-room home with three baths in suburban Westchester costs $400,000 and, in Ridgewood, N.J., a stylish colonial will fetch only $475,000.
Executives in the nation's capital can find a home in suburban Potomac or Chevy Chase for about $500,000, about the same price as a four-bedroom house with an ocean-view in Los Angeles' Orange County.
It is only in Hawaii that the price of U.S. executive homes really starts to climb. A 2,000-square-foot house on the island of Oahu with "great views" will cost between $600,000 and $800,000.
Among U.S. cities where the least expensive executive houses can be found is Pittsburgh where a 10-room home with a half-acre lot will cost a mere $240,000 - $18,000 less than a similar house in strife-torn Belfast.
But for something really cheap, look to Canada. A four-bedroom home in Edmonton, Alberta, costs just $190,000.