The average price in 2010 was $272,900. With increases like that, you can see why owning property is considered a good long-term investment . Housing in city centers also costs more than ever before. People used to move from the city center to the outer city neighborhoods or suburbs to escape overcrowding and noise. Today, many are moving back because they want to be closer to their workplace. Since space is limited in these areas, supply has not caught up with rising demand, and prices have gone up a result. For example, it is nearly impossible to find a place in London’s expensive Mayfair district, or Manhattan in New York City, for a million dollars. Even countries that traditionally have a lower cost of living, like India or Brazil, have seen property prices rise dramatically. A 2,000 square foot (186 square meter) apartment in Mumbai’s southern neighborhoods can cost more than $3 million-the same as a two-bedroom flat in central London.