For me it was the other way round sadly. We lived in a house (rented) in a city district that was basically dubbed “the little cozy village right in the city”. We had the prospect of buy this house one day for quite cheap, but then the gentrification happened very fast before we could do that. There were many old houses in that area - often times so old, that the only real way to deal with them was to tear them down and rebuild. Even those were sold at sky high prices. Don’t even think to stay below 800k to 1M. And that before all the additional construction needed. Since this price hike only took about ~1 year to reach this point, we hadn’t really time to realize what was going on. We even got a very good offer to buy the house, but with all repairs and such needed, we’d have still been on the hook for an estimated ~900k total.
For me it was the other way round sadly. We lived in a house (rented) in a city district that was basically dubbed “the little cozy village right in the city”. We had the prospect of buy this house one day for quite cheap, but then the gentrification happened very fast before we could do that. There were many old houses in that area - often times so old, that the only real way to deal with them was to tear them down and rebuild. Even those were sold at sky high prices. Don’t even think to stay below 800k to 1M. And that before all the additional construction needed. Since this price hike only took about ~1 year to reach this point, we hadn’t really time to realize what was going on. We even got a very good offer to buy the house, but with all repairs and such needed, we’d have still been on the hook for an estimated ~900k total.