How many square metres of prime property $1 mn buys across the world
Earlier this year, Knight Frank released 'The Wealth Report' that provides a unique perspective on the issues that are influencing the Ultra High Net Worth Individuals’ investment and lifestyle decisions. The report tracks the growing super-rich population in 125 cities across 89 countries. The report also looks 20 prime city markets around the world, and reveals the square-meter area of prime property that $1 million would buy in each city. The report lists these city markets based on the typical luxury residential value for each city and the exchange rate at the end of 2016
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20/08/2017 12:00 AM
Sào Paulo
176 sqm
In Sào Paulo, a global city and financial centre in Brazil, you could get 176 square metres of prime property for $1 million.
Dubai
162 sqm
A global and business hub of the Middle East, and United Arab Emirate’s most populated city, Dubai is the 18th expensive city in this list.
Melbourne
110 sqm
Melbourne is the 17th most expensive city on this list. The report recorded a 51 square metre differential between Melbourne and Sydney, both being the top two Australian cities in the list.
Istanbul
102 sqm
Next on the list is Turkey’s most populated economic and cultural center, Istanbul, where you can buy 102 square metres of prime property for $1 million.
Mumbai
99 sqm
India’s financial capital, Mumbai is the 15th most expensive city in the list.
Tokyo
90 sqm
The capital of Japan and an ultra-modern city, Tokyo, is the 14th most expensive one on the list, where you can get 91 square metres of prime property for $1 million.
Berlin
87 sqm
You can get 87 square metres of prime property for $1 million in the capital of Germany.
Miami
79 sqm
Miami, a major tourism hub in America, is the 12th most expensive city in this list.
Los Angeles
61 sqm
Home of Hollywood, the cultural and financial centre of Southern California, Los Angeles is the 11th most expensive city for prime property, according to the Knight Frank report.
Sydney
59 sqm
Australia's largest city, Sydney, ranks at No 10, and you can get 59 square metres of prime property for $1 million.
Beijing
58 sqm
China’s capital, Beijing, is the 9th most expensive city in this list where $1 million buys 58 square metres of prime property.
Paris
55 sqm
Paris offers 55 square metres of prime property for $1 million, which is significantly more than cities like New York and London, making it the 8th expensive city in the list.
Shanghai
46 sqm
An important economy in Mainland China, Shanghai, is the 7th most expensive city where $1 million buys 46 square metres of prime property.
Singapore
43 sqm
One of the world's most important financial hubs, Singapore offers 43 square metres of prime property for $1 million.
Geneva
42 sqm
This global and financial centre which houses many international organisations, is the 5th most expensive city in the list.
London
30 sqm
London is the 4th most expensive city in this list, where $1 million buys 30 square metres of prime property.
New York
26 sqm
According to the Knight Frank report, New York and London have regularly switched positions over the years, but the strength of the US dollar and prices dropping in central London in the last year, enabled New York to be ahead this time.
Hong Kong
20 sqm
The world’s fourth most populated territory, Hong Kong grabs the second spot in this list. Note that the price ranges for Hong Kong, Beijing and Shanghai are for properties considered ‘super-prime’. The rates for Hong Kong are based on apartments.
Monaco
17 sqm
In this small European country, Monaco, only 17 square metres of prime property can be bought with $1 million making it the most expensive city in the list. According to the report, this famous tourist destination spot has maintained the top position since 2010, and the values have mostly remained stable.
