How many square metres of prime property $1 mn buys across the world
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
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.