The Real Deal New York

Here’s what $5 million buys in housing markets around the world: CHART

A new report shows what $5 million buys you in the world's most expensive housing markets
By Business Insider | June 14, 2015 10:01AM

Five million dollars is a hefty sum of money to buy a home in any place. But in some locations, that amount of money doesn’t go as far as one might think.

In its latest Luxury Defined report, Christie’s International Real Estate broke down the size and type of residence $5 million would buy in the world’s most expensive housing markets.

In London, which has the world’s highest-priced residential property per-square-foot, $5 million gets you a lovely two-bedroom flat in a central neighborhood. In Lisbon, Portugal — another trendy destination for the wealthy, but one with much lower overall property prices — that same amount affords a “magnificent villa” in a prime location, according to the report.

The map at the bottom shows how many square feet $5 million buys in cities around the world. Click it to view a larger version.