Tag Archives: Big

How Big Is an Acre, Really?

An acre is the typical measurement of a piece of land, used by buyers and sellers to have an understanding of the size of a piece of property. Much like square footage is used by home buyers to determine the size of a house, acreage gives buyers a better sense of the size of the property, which is easier than using the lot measurements, which can vary greatly and are often not symmetrical.

The origin of the word “acre” comes from Old English – √¶cer, which denotes the amount of land a yoke of oxen could plow in a day, but is of Germanic origin; Acker for ‘field’.

Nowadays, most of us don’t have any idea how much land a yoke of oxen can plow, and indeed, today the measurement is a little bit more accurate! The official measurement of an acre is 43,560 square feet.

So, exactly how big is an acre?

  • 4,045 square meters
  • 4,840 square yards
  • 43,560 square feet
  • 0.404686 hectares
  • 0.0015625 square miles

For the average person, a pretty easy way to understand an acre is that it is about the equivalent of three-quarters of a full-length football field or 16 tennis courts laid out in a four-by-four square.

When looking at large tracts of land, though, it can still be difficult to determine a single acre within tens or hundreds of square miles of land. To give you an idea of what that means in real property, here are a few examples of acreages:

Wrigley Field in Chicago

The baseball diamond plus outfield of the home of the World Series Champs (how ’bout them Cubbies!) measures 2 acres.

The White House in Washington, DC

The home & grounds of the (arguably) most powerful man in the world measure 8 acres. If you’ve ever seen the White House in context among the rest of Washington, DC, those 8 acres look surprisingly tiny.

The Upper Peninsula of Michigan

The UP is an awfully large area to be measured in acres (it has an area of 16,377 square miles), but in case you’ve ever wondered, it covers an area of just under 10.5 million acres.

From here, the question many people ask next is “How much is an acre worth?”

The answer, of course, is much more varied than the measurement of an acre. In rural areas of Michigan, unimproved land (raw land, with no buildings, no well or septic system, etc.) can be found for $2,000/acre or less, depending on the type of land (recreational, tillable, timberland, etc.), as well as the size of the tract, and will go up from there. Specialty land – waterfront property or commercially zoned land in town as an example – will often be much more expensive.

Luxury Apartments – The Next Big Boom

The unpredictable nature of the real estate business has seen a lot of highs and lows in the sale of properties. While many believe the real estate industry is in a bit of a slump across the nation, certain cities have been able to defy odds and post positive results.

In India, the city Kolkata witnessed an increase in the sale of housing units in the last quarter. The city saw a 32% rise in units sold when compared to Q2 in the year 2015, based on data collected from a realty research agency.

Other reports suggested that the real estate market saw a 17% rise in the sale of properties in all the eight metros combined. Researchers stated the reason for the growth in sales over the last quarter has been due to a drop in prices of projects.

Can luxury apartments be the game changer?

While real estate marketers have tried their best to build projects which cater to most, there are a range of projects coming up which target only a handful of clients. Luxury apartments and complexes are being built by real estate developers and these projects are extremely expensive compared to the other projects but with good reason.

Real estate marketers are bringing in top designers and architects from across the world to help design and execute these projects. Most complexes falling under the luxury category feature large sized apartments and duplex flats along with a range of great amenities.

Although expensive, luxury projects are seen as a jewel in the crown for real estate developers, something that can help them stand out from the competition and hopefully bring in a lot of revenue from sales.

Kolkata is also seeing its fair share of luxury projects being constructed. These projects are changing the landscape of the city thanks to its artistic designs. Even though the luxury market hasn’t been the bestselling segment in the city, there are high hopes for the projects.

Most regular apartment complexes feature 2 BHK and 3 BHK flats but luxury projects feature larger flats having 4 BHKs and a lot more to offer to prospective buyers. These flats, depending on the city, cost anywhere between 2 crores to 50 or 60 crores and take longer to sell than non-luxury apartments. Even a single flat sold brings in a large amount of money for the real estate developer.

While residents get the best facilities and cherish the grandeur of living in these luxury apartments, it still is a risk for the real estate developer – the flats can stay unsold for long periods of time. In an industry which has so many projects coming up, the need to have a project that gives the developer a unique identity is of the utmost importance. Since the rewards for building a luxury project outweigh the risks involved, it should lead to an even greater number of such projects coming up in the future.